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Dividend announcements reconsidered: Dividend changes versus dividend surprises

Andres, Christian; Betzer, André; van den Bongard, Inga; … - 2012

This paper reconsiders the issue of share price reactions to dividend announcements. Previous papers rely almost exclusively on a naive dividend model in which the dividend change is used as a proxy for the dividend surprise. We use the difference between the actual dividend and the analyst...

Persistent link: https://www.econbiz.de/10010309228

Inter-industrial relations and sectoral employment development in German regions

Kowalewski, Julia - 2012

This paper aims to find evidence for the positive impact of cluster structures on employment development in Germany. It … importance for the employment development in individual industries. The findings indicate that co-location of inter …-connected industries did have a positive effect on employment growth in 16 out of 56 industries between 1998 and 2007 supporting the …

Persistent link: https://www.econbiz.de/10010309231

Cyclicality of real wages in the USA and Germany: New insights from wavelet analysis

Marczak, Martyna; Gómez, Víctor - 2012

Germany. We apply two methods for the estimation of the cyclical components from the data: the approach based on the …

Persistent link: https://www.econbiz.de/10010309235

Concrete shoes for competition: The effect of the German cement cartel on market price

Hüschelrath, Kai; Müller, Kathrin; Veith, Tobias - 2012

We use publicly available price data from the German cement industry to estimate the cartelinduced price increase. We apply two different comparator-based approaches - the 'before and-after' approach and the 'difference-in-differences' approach - and especially study the impact of various...

Persistent link: https://www.econbiz.de/10010309238

The competitive effects of firm exit: Evidence from the US airline industry

Hüschelrath, Kai; Müller, Kathrin - 2012

We study the competitive effects of five liquidations and six mergers in the domestic U.S. airline industry between 1995 and 2010. Applying fixed effects regression models we find that route exits due to liquidation lead to substantially larger price increases than mergerrelated exits. Within...

Persistent link: https://www.econbiz.de/10010309239

The behavioralist goes to school: Leveraging behavioral economics to improve educational performance

Levitt, Steven D.; List, John A.; Neckermann, Susanne; … - 2012

Decades of research on behavioral economics have established the importance of factors that are typically absent from the standard economic framework: reference dependent preferences, hyperbolic preferences, and the value placed on non-financial rewards. To date, these insights have had little...

Persistent link: https://www.econbiz.de/10010309241

Estimating damages from price-fixing: The value of transaction data

Hüschelrath, Kai; Müller, Kathrin; Veith, Tobias - 2012

cement producers to study the value of such transaction data for an estimation of cartel damages. In particular, we …

Persistent link: https://www.econbiz.de/10010309242

House price forecasts in times of crisis: Do forecasters herd?

Pierdzioch, Christian; Rülke, Jan Christoph; … - 2012

We used Wall Street Journal survey data for the period 2006 - 2010 to analyze whether forecasts of house prices and housing starts provide evidence of (anti-)herding of forecasters. Forecasts are consistent with herding (anti-herding) of forecasters if forecasts are biased towards (away from)...

Persistent link: https://www.econbiz.de/10010309243

Wages, rents, unemployment, and the quality of life

Wrede, Matthias - 2012

Combining a spatial equilibrium model with a search-matching unemployment model, this paper analyzes the willingness to pay for regional amenities and the regional quality of life when wages, rents, and unemployment risk compensate for local amenities and disamenities. The results are compared...

Persistent link: https://www.econbiz.de/10010309283

The impact of corporate taxes on investment: An explanatory empirical analysis for interested practitioners

Dreßler, Daniel - 2012

The scientific literature provides evidence for an impact of company taxes on investments. Practitioners, however, have a skeptical view on the meaning of this effect. This paper builds the bridge between research and the interested practice by providing detailed descriptives and clearly showing...

Persistent link: https://www.econbiz.de/10010309286