Das internationale Bankensystem stand in den vergangenen Jahren im Fokus des öffentlichen Interesses. Bei der Diskussion möglicher Optionen zur Verbesserung der Finanzsystemstabilität rückt zunehmend die Corporate Governance in Banken in den Fokus. Der vorliegende Forschungsbericht widmet...

1) Financing Firms in East European Countries: An Asymmetric Information and Agency Costs Approach, by Debora Revoltella 2) Seven Years of Financial Market Reform in Central Europe, by Peter H. Haiss and Gerhard Fink.

This essay discusses the corporate governance of banks. Bank managers must balance competing demands from shareholders and regulators, which distinguishes banks from most other firms. The essay is structured into three parts. The theoretical section first broadly defines management and its...

Publicly traded family businesses in Europe do business with a longer-term perspective and more successfully than companies that are not family businesses – and the greater the influence of the founding family, the better their performance. This is the conclusion reached by the study of an...

Durch Bereitstellung von Krediten tragen Banken zur Transformation von Finanzkapital in Sachkapital bei. Die Kreditvergabepolitik der Schweizer Banken hat sich im vergangenen Vierteljahrhundert stark gewandelt. Basierend auf einem Datensatz (1987-2012) mit bankengruppenspezifischen Bilanzdaten...

This study was prepared by Sven Neelsen while he was working with the ifo Institute for Economic Research. It was completed in December 2011 and accepted as a doctoral thesis by the Department of Economics at the University of Munich in May 2012. The study investigates long-run effects of...

The recent corporate failures in the US and in Europe have considerably damaged investors’ confidence in the functioning of financial markets and the ability of the regulatory framework to safeguard their interest and prevent fraud. These episodes demonstrate that market failures exist, which...

Dieses Diskussionspapier beleuchtet die PRME-Verpflichtung der Hochschule Pforzheim und die daraus resultierenden Probleme (Abschnitt 2) aus vier Perspektiven: der erkenntnistheoretischen (Abschnitt 3), der erfahrungswissenschaftlichen (Abschnitt 4), der juristischen (Abschnitt 5) und einer...

This paper investigates the determinants of a broad sample of Swiss non-financial firms' cash holdings between 1995 and 2004. The median Swiss firm holds almost twice as much cash and cash equivalents as the median U.S. or U.K. firm. Our results indicate that asset tangibility and firm size are...