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Kill Zones? Effects of Big Tech Start-up Acquisitions on Innovation
Prado, Tiago S. - 2021
research has found a strong positive, causal relationship between VC investment and innovation. Using this insight, we can …
Persistent link: https://www.econbiz.de/10012606325
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Bank Capital Regulation and Endogenous Shadow Banking Crises
Poeschl, Johannes; Zhang, Xue - 2019
We study the macroeconomic effects of bank capital requirements in an economy with two banking sectors. Banks are connected through a wholesale funding market. Anticipated banking crises occur endogenously in the form of self-fulfilling wholesale funding rollover crises. Retail bank capital...
Persistent link: https://www.econbiz.de/10012099082
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When Credit Expansions Become Troublesome: The Story of Investor Sentiments
Poeschl, Johannes; Gerba, Eddie; Leiva-Leon, Danilo - 2023
Persistent link: https://www.econbiz.de/10014363785
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Does Monetary Policy Affect Mergers and Acquisitions?
Horn, Carl-Wolfram; Fischer, Johannes J. - 2021
We analyse the effects of monetary policy on mergers and acquisitions (M&A) activity in the United States, both on the aggregate and the firm level. We find that aggregate M&A activity decreases significantly following a monetary policy shock. The aggregate results are confirmed by an analysis...
Persistent link: https://www.econbiz.de/10012623191
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Public Debt & Sovereign Ratings - Do Industrialized Countries Enjoy a Privilege?
Bartels, Bernhard; Weiser, Constantin - 2015
groups with a special focus on the impact of public debt on the perception of sovereign risk. Our results show that general … government debt is among the most important determinants of credit risk in industrialized countries and emerging markets alike …
Persistent link: https://www.econbiz.de/10011301418
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Advertisement-Financed Credit Ratings
Siemering, Christian - 2015
Traditional business models of credit rating agencies (CRAs) are criticized for creating incentives for misreporting. This paper investigates a potential alternative in which CRAs receive revenue from advertisement only. We use a two-period Bayesian reputation model and show that CRAs will shirk...
Persistent link: https://www.econbiz.de/10011301791
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Agglomeration and embeddedness of Belgian biotech firms: The role of venture capital
Bringmann, Katja; Verhetsel, Ann; Vanoutrive, Thomas; … - 2013
The existing literature on cluster embeddedness largely neglects the impact of finance on the development of firm?s network linkages. This is striking in so far that particularly venture capital is often referred to as ?smart money? providing firms not only with funds but also with network...
Persistent link: https://www.econbiz.de/10011397333
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Non-bank finance for firms. The role of private equity funds in north-western Italy
Coin, Daniele; Vacca, Valerio - 2014
Using fund-, firm- and bank-level data we investigate the investments of private equity (PE) funds in the north-western regions of Italy. Both the private equity fund managers and the PE investments are heavily concentrated in this most developed area of the country. The average size of the...
Persistent link: https://www.econbiz.de/10011399935
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The impact of information risk and market stress on institutional trading: New evidence through the lens of a simulated herd model
Boortz, Christopher K.; Jurkatis, Simon; Kremer, Stephanie - 2013
This paper sheds new light on the impact of information risk and market stress on herding of institutional traders from … herding intensity should increase with information risk. Market stress should affect herding asymmetrically: while there is … risk on herding intensity on an intra-day basis. However, in contrast to the simulation results empirical herding measures …
Persistent link: https://www.econbiz.de/10010329265
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The Corporate Venture Capital Exit Decision
Maxin, Hannes - 2018
This paper investigates an entrepreneur who decides whether to obtain funds from an independent venture capital firm (IVC) or a corporate venture capital firm (CVC) to develop an innovative product. In case of success, the entrepreneur enters a market and competes with an incumbent. The CVC is a...
Persistent link: https://www.econbiz.de/10011892152