Empirical evidence suggests that capital structure varies across firms facing different levels of information asymmetry, however, this evidence contradict the prediction of pecking order hypothesis. Although debt capacity constraints offer some explanation for this discrepancy, it fails to...

The issue of capital structure of companies is one of the most debated problems of financial management. According to economic theory, capital structure determines the stock market value of firms and therefore their viability, while one of the most negative result of the crash of 2008 and the...

Die Insolvenzzahlen sind trotz Corona-Krise stark gesunken. Aufgrund zahlreicher Großinsolvenzen wie etwa von Esprit, Hallhuber oder Wirecard war das Jahr 2020 bezogen auf die Zahl der betroffenen Beschäftigten trotzdem ein schwieriges Jahr. Eine Insolvenzwelle mit vielen gefährdeten Jobs ab...

As part of a more general process of employment reallocation from less to more productive employers, job-to-job flows tend to be beneficial for productivity and for workers. Thus, when this rate slows, it is important to understand why. In the US, for example, the job-to-job flow rate is now at...

We document and attempt to explain the recent decline in employment dynamics in the U.S. We have four major empirical findings. First, each measure exhibits a 'stair step' pattern, with the declines concentrated in recessions and little increase during subsequent expansions. Second, changes in...

Based on the counting of Help-wanted advertisements in print newspapers, we build national vacancy indexes and vacancy rates for Colombia for the period 1976 - 2012. The result is the first dataset capturing the evolution of vacancies for Colombia and the first one covering such a long period...

Scarce empirical evidence exists for Germany regarding the cyclical aspects of worker reallocation. Furthermore, it is assumed that the cyclical influence on transition rates is the same for all demographic groups. However, one can expect that each subgroup is differentially influenced by the...

This paper analyses euro area Beveridge curves at the euro area aggregate and country level over the past 25 years. Using an autoregressive distributed lag model, we find a significant outward shift and flattening of the euro area Beveridge curve since the onset of the crisis, but considerable...

This paper explores the incidence of job loss by wage level during the Great Recession, using data for Ireland. Ireland experienced a particularly pronounced decline in employment by international and historical standards, which makes it a valuable case study. Using EU Survey on Income and...

This paper analyzes the Austrian Beveridge curve as well as the Beveridge curves for different economic sectors in Austria over the period from 2008 onwards. We find significant outward shifts of the Beveridge curves in eight of the 21 sectors of the economy. We further analyze what factors have...