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Horizontal and Vertical Firm Networks, Corporate Performance and Product Market Competition
Bischoff, Oliver; Buchwald, Achim - 2016
This paper sheds new light on the assessment of firm networks via multiple directorships in terms of corporate firm performance. Using a large sample of European listed firms in the period from 2003 to 2011 and system GMM we find a significant compensation effect on corporate firm performance...
Persistent link: https://www.econbiz.de/10011527857
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Family ownership and effects on firm performance in Asia
Hˆgberg, Andreas - 2010
The current literature on firm ownership around the world shows that concentrated ownership with only one or a few … controlling owners is common, especially in many European and Asian countries. The dispersed ownership has proven to be uncommon … and even countries with supposed dispersed ownership has also shown signs of ownership concentration. Commonly, the …
Persistent link: https://www.econbiz.de/10011332476
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Foundation Owned Firms in Germany - a Field Experiment for Agency Theory
Franke, Günter; Draheim, Matthias - 2015
This paper analyzes the governance and performance of firms which, according to simplistic agency theory, should not be viable. These firms are fully or partially owned by a foundation which itself is not owned by natural or legal persons. Therefore, residual claimholders have restricted or no...
Persistent link: https://www.econbiz.de/10011301813
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Determinants of buyouts in private equity firms
Nordström, Louise - 2010
Private equity companies have become a major force in the economic landscape. Financial- and operational-engineering are innovative characteristics of this emerging method of finance. The existing empirical data provide strong evidence that private equity activity contribute positively to the...
Persistent link: https://www.econbiz.de/10011332744
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Kill Zones? Effects of Big Tech Start-up Acquisitions on Innovation
Prado, Tiago S. - 2021
This paper investigates short-term effects of big tech start-up acquisitions on innovation empirically. Innovation research has found a strong positive, causal relationship between VC investment and innovation. Using this insight, we can explore the repercussions of big tech start-up...
Persistent link: https://www.econbiz.de/10012606325
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Tax Influence on Financial Structures of M&As
Harendt, Christoph - 2018
A well-known strategy of tax avoidance by multinationals is to locate debt in subsidiaries in countries with a high tax rate. In case of M&As it is particularly advantageous to locate debt at the level of holdings. By using firm-level data provided by the German Central Bank, I show empirically...
Persistent link: https://www.econbiz.de/10011892057
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Common Ownership and the Market for Technology
Hutschenreiter, Dennis - 2023
Persistent link: https://www.econbiz.de/10014363726
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Redemptions and Asset Liquidations in Corporate Bond Funds
Weth, Mark Andreas; Dötz, Niko - 2019
because the vulnerability to outflows is found to depend on asset liquidity and fund ownership. We construct a unique panel of … German corporate bond funds by merging data on asset liquidity with information on fund ownership. First, conditional on … meet redemptions is found to differ across ownership structures and depends on the degree of macroeconomic uncertainty: in …
Persistent link: https://www.econbiz.de/10012099104
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Bank Owners or Bank Managers: Who is Keen on Risk? Evidence from the Financial Crisis
Gropp, Reint E.; Köhler, Matthias - 2010
In this paper, we analyse whether bank owners or bank managers were the driving force behind the risks incurred in the wake of the financial crisis of 2007/2008. We show that owner controlled banks had higher profits in the years before the crisis, and incurred larger losses and were more likely...
Persistent link: https://www.econbiz.de/10010270291
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Anticorruption efforts and corporate fraud
Zou, Na - 2020
This study examines whether and how anticorruption efforts may mitigate the risk of corporate fraud. Based on a sample of Chinese publicly listed firms over the period of 2008 to 2017, we find that anticorruption efforts reduce the likelihood of fraud commission and increase the likelihood of...
Persistent link: https://www.econbiz.de/10012287907