Demographic change causes an undersupply of financial old age benefits within the statutory pay-as-you-go pension system in Germany. Therefore, the provision of occupational as well as private pensions has to be enhanced. However, there seems to be an undersupply of occupational pension...

People often disregard the need for individual savings for old-age although a decreasing rate of birth and an increasing life expectancy make it necessary to save additional money for retirement by using private or occupational pensions. Due to a lack of financial literacy and a variety of...

This paper examines the composition of supervisory boards of German banks for a sample of 41 large banks in the period 1999-2006. We find that the supervisory board structure reflects both outside control by shareholders and inside control by stakeholders. Most of the non-employee board members...

This paper analyses the relationship between lottery tickets and common stocks using cross sectional household data for the U.K. and Germany. In contrast to a previous empirical finding that predicts a complementary effect and nonexpected utility models that predict a substitutional effect, we...

Demographic change causes an undersupply of financial old age benefits within the statutory pay-as-you-go pension system in Germany. Therefore, the provision of occupational as well as private pensions has to be enhanced. However, there seems to be an undersupply of occupational pension...