Verbraucherpolitik kann durch die Bereitstellung glaubwürdiger Informationen den Schutz der Verbraucher vor eigennützigem Verhalten der Unternehmen verbessern, durch den Abbau von Markteintrittsbarrieren die Funktionsfähigkeit des Wettbewerbs sichern und die Etablierung von Innovationen am...

We analyze the role of intermediaries in electronic markets using detailed data of more than 14,000 originated loans on an electronic P2P (peer-to-peer) lending platform. In such an electronic credit market, lenders bid to supply a private loan. Screening of potential borrowers and the...

This paper examines the impact of the Sarbanes-Oxley Act (SOX), a legal framework intended to increase transparency and accountability of listed companies, on the cost of going public in the US. We expect SOX to increase the direct cost of going public, but decrease the underpricing because of...

While macroprudential policy has mostly focused on the role of banks, we argue that pension funds are also important for financial stability. Drawing on previous research on pension funds, we explain how their actions can have a vital impact on other financial institutions as well as on...

A healthy and developing financial sector is a key support to balanced and sustainable economic growth. And as the countries of central Europe - the Czech Republic, Hungary, Poland, Slovakia, and Slovenia - approach EU membership and ultimately adoption of the euro, the litmus test for financial...

The long-held truism that finance is always good for growth has been called into question by the global financial crisis. This article examines new evidence on the finance-growth nexus from a European perspective. More specifically, it compares the approach of many CESEE countries - i.e....

Das Fürstentum Liechtenstein ist bekannt als Steueroase und attraktiver Finanzplatz. Welche Wirtschaftskraft ist damit verbunden? Wieviel trägt der Finanzdienstleistungssektor dazu bei? Wie hat sich die in- und ausländische Beschäftigung in Liechtenstein entwickelt?