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  • FINESS Working Papers 2.1 / 2008

    Bank Market Structure and Firm Capital Structure

    We explore the impact of concentration in the banking markets on the capital structure of publicly quoted non-financial firms in the EU15 over the period 1997- 2005, an era marked by intensive merger activity in the banking sector. Our main finding is a negative and significant relationship between the degree of concentration of European bank markets and the market leverage of firms, indicating the ...

    2008| Lieven Baert, Rudi Vander Vennet
  • FINESS Working Papers 2.2 / 2009

    Bank Ownership, Firm Value and Firm Capital Structure in Europe

    We investigate whether or not banks play a positive role in the ownership structure of European listed firms. We distinguish between banks and other institutional investors as shareholders and examine empirically the relationship between financial institution ownership and the performance of the firms in which they hold equity. Our main finding is that after controlling for the capital structure decision ...

    2009| Lieven Baert, Rudi Vander Vennet
  • Sonstige Publikationen des DIW / Monographien

    Economic Consequences of German Unification and its Policy Implications for Korea: Final Report ; Final Version

    1995| Heiner Flassbeck (Head of Project), Gustav A. Horn, Manfred Melzer, Volker Meinhardt, Rudolf Nahrstedt, Reinhard Pohl, Wolfgang Scheremet, Frank Stille, Dieter Vesper, Rudolf Zwiener
  • Externe Monographien

    Kazakstan 1993 - 2000: Independent Advisors and the IMF

    Heidelberg: Physica-Verlag, 2001, X, 278 S. | Lutz Hoffmann, Peter Bofinger, Heiner Flassbeck, Alfred Steinherr
  • Diskussionspapiere 1218 / 2012

    Modifying Taylor Reaction Functions in Presence of the Zero-Lower-Bound: Evidence for the ECB and the Fed

    We propose an alternative way of estimating Taylor reaction functions if the zero-lowerbound on nominal interest rates is binding. This approach relies on tackling the real rather than the nominal interest rate. So if the nominal rate is (close to) zero central banks can influence the inflation expectations via quantitative easing. The unobservable inflation expectations are estimated with a state-space ...

    2012| Ansgar Belke, Jens Klose
  • Externe Monographien

    Ramifications of Debt Restructuring on the Euro Area: The Example of Large European Economies' Exposure to Greece

    Essen: RWI, 2011, 17 S.
    (Ruhr Economic Papers ; 273)
    | Ansgar Belke, Christian Dreger
  • Diskussionspapiere 1076 / 2010

    The Euro Area Crisis Management Framework: Consequences and Institutional Follow-Ups

    The current instruments in the EU to deal with debt and liquidity crises include among others the European Financial Stability Facility (EFSF) and the European Financial Stabilisation Mechanism (EFSM). Both are temporary in nature (3 years). In terms of an efficient future crisis management framework one has to ask what follows after the EFSF and the EFSM expire in 3 years time. In this vein, this ...

    2010| Ansgar Belke
  • Weekly Report 1 / 2010

    Investments: Women Are More Cautious than Men because They Have Less Financial Resources at Their Disposal

    Experts on investments and financial products assume that women are less amenable to risks and therefore put their money into secure investment products. A current study conducted by the DIW Berlin (German Institute for Economic Research) challenges this view. The study demonstrates that men and women are equally likely to take a chance on risky investments - assuming that they have the same financial ...

    2010| Oleg Badunenko, Nataliya Barasinska, Dorothea Schäfer
  • Diskussionspapiere 169 / 1998

    Germany's Slump Explaining the Unemployment Crisis of the 1990s

    According to a widespread view, Germany's unemployment crisis is caused by rigid labour markets, low profitability and increasing international competition. We argue that this view does not provide a convincing explanation for the dramatic rise in Germany's unemployment rate since 1989, first because no distinction is drawn between the situation in the Eastern part of Germany and that in the Western ...

    1998| Ludger Lindlar, Wolfgang Scheremet
  • Economic Bulletin 3 / 1996

    How Important Are the Fiscal Policy Convergence Criteria

    1996| Marcel Stremme
880 results, from 791