Since the late 1990s, the construction industry has undergone a change in business model, as contractors vertically expand their operations to other parts of the real estate life cycle. The question arises on whether construction companies have superior abilities as real estate service...

We identify 72 bank Mergers and Acquisitions (M&As), in which US banks acquired other financial institutions. We focus on the role of timing at M&A in the context of boom phase and financial crisis. Applying event study methodology, we examine: value generation to bank shareholders; value...

Some studies indicate that there is only little difference between business and personal risks among small businesses. Personal assets and wealth can become subject to business risks depending on the organisational and legal structure chosen for the business. By the choice of the organisational...

The real estate banking industry in Germany has undergone severe changes due to changes in the legal framework, consolidation processes and economic crisis. As one of the results, German banks begin to sell their portfolios of non performing real estate loans. The six relevant transactions in...

This paper analyzes approaches investigating success drivers of mergers and acquisitions (M&A) in the software industry. The literature review covers a classification of research pa-pers in the generic and software industry-specific M&A research discipline. The results ac-centuate that the...

The following analysis presents empirical evidence on the investor demanded risk premium at the bond issuance. The sample consists of bonds issued by alter native energy firms in Germany between 2008 and 2012. Our results show that besides the well-known influence of ratings, other factors may...

In the course of the European sovereign debt crisis, the question has arisen as to whether the soundness of the US banking and financial system could be harmed by contagion effects. Considering the numerous downgradings of European countries in recent years, the current paper examines price...

It is known from the literature on the psychology of modes of behavior in stock markets that – besides other parameters – moods and emotions as personal influencing factors affect yield expectations and the risk-awareness of market participants. The constructs that may influence moods...

This study analyses the implications that have emanated for non-anonymous floor trading at the Frankfurt stock exchange from the fact that the closing hour of electronic stock trading at the German stock exchange system XETRA has been advanced from 20.00 hrs to 17.30 hrs. effective as of 03...