Showing 175,351 - 175,360 of 177,091
and Codes (ROSC). Using difference-in-difference estimation, I study the effect on the sovereign credit spreads for 18 …
Persistent link: https://www.econbiz.de/10010308569
In this paper we challenge the view that corporate bonds are always arm's length debt. We analyze the effect of bond ratings on the stock price return to acquirers in M&A transactions, which tend to have significant effects on creditor wealth. We find acquirers abnormal returns to be higher if...
Persistent link: https://www.econbiz.de/10010308570
I evaluate the effect of inflation targeting on inflation and how it interacts with product market deregulation during the disinflationary process in the 1990s. Using a sample of 21 OECD countries, I show that, after controlling for product market deregulation, the effect of inflation targeting...
Persistent link: https://www.econbiz.de/10010308577
We propose a novel approach to model serially dependent positive-valued variables which realize a non-trivial proportion of zero outcomes. This is a typical phenomenon in financial time series observed at high frequencies, such as cumulated trading volumes. We introduce a flexible point-mass...
Persistent link: https://www.econbiz.de/10010308578
Young Innovative Companies (YIC) gained increasing attention from governments and scholars due to their expected high innovative performance and growth. Consequently, this study investigates whether Young Innovative Companies, as defined by the EU, grow more than other firms, both in terms of...
Persistent link: https://www.econbiz.de/10010308750
R&D encompasses plenty of activities which are usually summarized under the terms of basic research, applied research and development. Although basic research is often associated with low appropriability it provides the fundamental basis for subsequent applied research and development....
Persistent link: https://www.econbiz.de/10010308752
In this paper, we revisit the empirical evidence on the relationship between trade openness and long-run economic growth over the sample period 1960-2000. In contrast to previous studies focusing mainly on the period 1970-1990, this paper reassesses the openness-growth nexus over a much longer...
Persistent link: https://www.econbiz.de/10010308944
This note analyzes the existence of a possible media bias by determining the impact of automobile manufactures' advertisements on the probability that German car magazines review their products. By accounting for possible endogeneity, we find a positive impact of advertising volumes on test...
Persistent link: https://www.econbiz.de/10010309033
A popular interpretation of the Rational Expectations/Efficient Markets hypothesis states that, if the hypothesis holds, then market valuations must follow a random walk. This postulate has frequently been criticized on the basis of empirical evidence. Yet the assertion itself incurs what we...
Persistent link: https://www.econbiz.de/10010309044
The authors provide evidence on the impact of foreign ownership on labor market outcomes analyzing pay differences between foreign-acquired and domestically owned firms. For this purpose, they use firm-level data from 16 European countries over the time period 19992006. Combing propensity score...
Persistent link: https://www.econbiz.de/10010309046