Das Finanzierungsumfeld für kleine und mittlere Unternehmen (KMU) befindet sich im Wandel. Die Veränderungen des konjunkturellen Umfelds und der damit verbundenen Niedrigzinspolitik sowie die Basel-Regulierungen zeigen einen deutlichen Einfluss auf die Finanzierungsstrukturen der KMU. So...

This paper critically surveys the key literature on corporate financing policy, capital structure and firm ownership in order to identify the leading theoretical and empirical issues in this area. The theoretical component of the survey attempts to reconcile competing theories of capital...

This report presents a long-term view of the evolution of financing of EU non-financial corporations (NFCs) in recent decades. It finds a decline in NFC leverage since at least 2008, and across countries, size categories and industries. It also documents a growing role of non-bank financial...

A central aspect of the industrial evolution in the advanced economies is the phenomenon called servitization. In general, the term servitization or product-service transition is used to highlight the change, where the tangible offering of a manufacturing firm is augmented with intangible...

This report analyzes the role of the largest companies in the Finnish economy. According to the results, the ten largest companies in terms of their value added together produce 7,6 % of the Finnish GDP. In addition, these companies generate notable multiplicative effects in the economy....

Für westeuropäische Unternehmen im Allgemeinen und für westeuropäische kleine und mittlere Unternehmen (KMU) im Besonderen bildete die politische und wirtschaftliche Marktöffnung in Mittel- und Osteuropa (MOE) zu Beginn der 1990er Jahre und die Integration vieler dieser...

In this study, we have analysed the role of the largest companies in the Finnish economy. According to the results, the list of ten largest companies in terms of their domestic value added is diverse and includes companies operating in the manufacturing industry, the service industry, as well as...

Die Digitalisierung ist der maßgebliche Treiber des industriellen Wandels. Daher ist Industrie 4.0 auch in aller Munde und erstreckt sich längst nicht mehr auf Industrieunternehmen. Moderne Technologien verändern Unternehmensstrukturen und ganze Branchen. Ihr Einsatz, wie Big Data,...

Data as a resource and data sharing enable competitive supply chains and present-day digital platform business models. The recipe for these competitive supply chains will no longer be contingent on how different companies contract to share data in their existing business networks but how these...

Decentralized finance (DeFi) is a rapidly growing science that leverages distributed ledger technology (DLT) to offer peer-to-peer financial services. The DeFi ecosystem consists of decentralized applications that range from traditional financial services like decentralized stock exchanges (DEX)...