According to the German federal government's climate protection targets, there will be a continuous reduction of lignite-based electricity well before 2030. Simulations show that the currently authorized lignite mines in eastern Germany would not be fully depleted if the climate protection...

Den Klimaschutzzielen der Bundesregierung zufolge muss dieBraunkohleverstromung in Deutschland bereits deutlich vor demJahr 2030 kontinuierlich abnehmen. Simulationen zeigen, dass diebereits genehmigten Tagebaufelder in den ostdeutschen Revierenbei einer Einhaltung der Klimaschutzziele bis 2030...

There are noticeable differences between the roles that various forms of credit financing play in family businesses and in other businesses. Family businesses take out more often bank loans specifically to finance investments and innovations, and they particularly often resort to the short-term...

Der vorliegende Beitrag untersucht die steuerinduzierten Wirkungen der Außenfinanzierung auf den Unternehmenswert von Immobilien-Kapitalgesellschaften. Im diesem Bereich existieren neben der gewerblichen Immobilien-AG steuerbegünstigte Rechtsformen, wie die vermögensverwaltende Immobilien-AG...

In this paper a novel survey dataset allows us to use a direct measure for credit constraints as well as a direct measure for the innovative activity of a firm to identify the effects of credit constraints on the innovation behaviour of firms. Furthermore, the design of the survey questions and...

Dieser Beitrag formuliert Kalküle für Investitionsentscheidungen von Personenunternehmen unter Berücksichtigung der neu geschaffenen Option zur Begünstigung nicht entnommener Gewinne (§ 34a EStG n.F.). Im Kalkül unter Sicherheit besteht die optimale Alternativanlage immer in der abgeltend...

Hosting the 2006 FIFA World Championship induced a boom in stadium investments in Germany. A second wave of smaller arena constructions can currently be observed across the country. These projects are promoted by smaller clubs of the first and the second Bundesliga, aiming not to fall behind the...

This study examines the consequences of loan denials for the investment performance of small and medium-sized German enterprises. As a consequence of a loan denial, innovative companies experience a smaller drop in the share of actual to planned investment than non-innovative companies. The...

The paper analyzes patterns in spatial proximity between venture capital investors and investees. We use a data set of 950 dyads of venture capitalists and German new ventures which have closed a financing round between January 2002 and March 2007. We are the first study to use minimum travel...

Using internal data of a leasing company in Germany, we examine the determinants of the probability and use of leasing by small firms. We find that small and young firms are likely to be constrained on the leasing market but use leasing to increase their debt capacity. Beyond contract- and...