The writing of this article predates by several months the failure of Silicon Valley Bank and the takeover of Credit Suisse which occurred in March 2023. It does not represent the views of the European Central Bank (ECB) and should not be construed as linked to or an advice for the winding down...

In this paper, we present a set of specific measures to quantify the state and evolution of financial integration in the euro area. Five key markets are considered, namely the money, corporate bond, government bond, credit and equity markets. Building upon the law of one price, we developed two...

This study presents two tests of the hypothesis that adoption of an internal ratings-based approach to determining minimum capital requirements, proposed as part of the Basel II capital accord, would cause adopting banking organizations to increase their acquisition activity. The study employs...

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...

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...

In the context of securities clearing and settlement systems, the nature of governance arrangements acquires a dimension that goes beyond their traditional function in corporate law. They constitute a tool for regulators and central banks to achieve their respective policy goals relating to...

Islamic finance is based on ethical principles in line with Islamic religious law. Despite its low share of the global financial market, Islamic finance has been one of this sector’s fastest growing components over the last decades and has gained further momentum in the wake of the financial...

Mit der Einführung des ESUG wurde das Insolvenzrecht Deutschlands im Jahr 2012 reformiert. Das ESUG eröffnet neue Sanierungswege, z. B. das eigenverwaltete Schutzschirmverfahren vor der Insolvenz und die Eigenverwaltung während des Eröffnungsverfahrens. Insgesamt beantragen weiterhin nur...

We examined mergers and acquisitions in the service sector and the effects of the transition to foreign ownership. We analyzed firm-level data encompassing 1,243 service sector acquisitions that occurred from 2009-2018. The most foreign acquisitions occurred in the health and social services,...