National borders are still strong barriers for mergers and acquisitions in Europe. We estimate a gravity equation model based on NUTS 2-regions and find that the restraining impact of national borders decreased by about a third between 1990 and 2007. However, there has been no significant change...

This paper examines the financing structure of small and medium-sized enterprises (SMEs) inGermany and questions whether an equity gap – or, more generally, a financing gap - exists.Reviewing the literature and available data sources, we find that financing constraints seem toaffect, if at...

National borders are still strong barriers for mergers and acquisitions in Europe. We estimate a gravity equation model based on NUTS 2-regions and find that the restraining impact of national borders decreased by about a third between 1990 and 2007. However, there has been no significant change...

National borders are still strong barriers for mergers and acquisitions in Europe. We estimate a gravity equation model based on NUTS 2-regions and find that the restraining impact of national borders decreased by about a third between 1990 and 2007. However, there has been no significant change...

National borders continue to be strong barriers for mergers and acquisitions in Europe. Using regional data, we construct a gravity model and find that the restraining impact of national borders decreased by more than 20 percent between 1991 and 2007. However, no significant change has occurred...

National borders continue to be strong barriers for mergers and acquisitions in Europe. Using regional data, we construct a gravity model and find that the restraining impact of national borders decreased by more than 17 percent between 1991 and 2007. However, no significant change has occurred...

Empirical and experimental papers nd that high-powered incentives may re-duce performance rather than improve it; a phenomenon referred to as "chokingunder pressure". We show that competition for high ability workers neverthelessleads rms to oer high bonus payments, thereby deliberately...