Frederik Drescher addresses the timing of non-mandatory insolvency filings based on threatening illiquidity (§ 18 InsO) with the aim of a company's restructuring as an agency problem between owners and management. Using a decision model, the author develops the hypothesis of a tendency towards...

Political restraints and proceeding effects of global warming cause the need for a change in electricity generation in Europe and its member states. As a consequence, German utilities face uncertainties of different types than in the past. Traditional investment valuation approaches are not able...