Social partners, trade unions and employer associations have been involved in most changes to the corporatist welfare state of Germany. In 2001, the government enacted a pension reform to replace the generous but - due to demographic constraints - unsustainable pay-as-you-go public pension...

Cooperative banks are widely seen as sustainable alternatives to profit-driven banking. However, while most banks struggle to meet the stringent capital requirements of regulators, cooperative banks are in particular need of cautious capital-related decisions given their little ability to...

The withdrawal of the welfare states from pensions underscores the need for a better understanding of the spatial characteristics of adoption processes in the case of financial innovations. In 2001, the German pension reform reduced the publicly provided pensions, and introduced subsidized,...

Relationships between individual traits and savings decisions vary geographically. Understanding the structure of such relationships is interesting in general, but it is particularly important in the case of the Germany, where the pension reform of 2001 significantly decreased the level of...

In the last decade hundreds of companies from emerging markets have listed and issued their shares on American and European stock markets. Brazil, Russia, India, and China have been the main origins of issuers, and stock exchanges in the US, UK, and Luxembourg the main destinations involved in...

Realistic credit risk assessment, the estimation of losses from counterparty's failure, is central for the financial stability. Credit risk models focus on the financial conditions of borrowers and only marginally consider other risks from the real economy, supply chains in particular. Recent...

Many Central and Eastern European countries invigorated by EU enlargement became important locations for offshored service centres. Building on the region's nearshoring advantages such as geographical-cultural proximity and on its multilingual graduate supply, CEE is likely to utilise more value...

The paper discusses how the second global shift in business services provision and corporate restructuring open up new offshoring opportunities into CEE. It explores three issues: First, it builds upon the theoretical framework of the 'new paradigm of globalization, which considers offshoring as...

The paper deals with the implication of the financial crisis on the FDIs.The author draws readers' attention to the role of FDI in the CEE banking sector in the post-transition period and discusses the impact of the crisis, which has become the most serious challenge of transition models in the...