Merger control plays a central role in competition policy. When assessing proposed mergers, Competition Authorities should consider its impact on all relevant markets. Large mergers between manufacturers typically impact competition, thus requiring the approval of Competition Authorities. Divestitures are often a condition of merger approval. This report investigates the effectiveness of implementing ...
This study examines the familial ties in the social support network of refugees in Germany. It investigates whether distance to family plays a role in the provision of emotional and informational support and how this relationship is moderated by social network services (SNS). Using data from the IAB-BAMF-SOEP Survey of Refugees (N = 5237), the paper provides evidence for a family-centred network. Increasing ...
The rise of populism continues to shake numerous Western democracies, often leading to exclusionary or authoritarian tendencies (Mudde, 2004). This is evident in events such as the US Capitol storming in January 2021 and the attempted coup in Germany in December 2022. The destabilizing threat to democratic institutions across the EU and the US underscores the importance of understanding populism’s...
We study the relationship between crowding and performance in the active mutual fund industry. Using the equity holdings overlap of 17,364 global funds, we find that funds that crowd into the same stocks underperform passive benchmark funds by 1.4% per year. The negative returns to crowding can at least in part be explained by excess demand for liquidity and the associated discount for holding liquid ...
Despite substantial research on job satisfaction in self-employment, we know little about the specific consequences for the venture when job satisfaction declines after an external shock. Taking the COVID-19 pandemic as an example of an external shock and drawing on a sample of nearly 7,000 self-employed individuals living in Germany, we investigate how declines in job satisfaction are related to investment ...
We investigate panel conditioning effects in a long-running probability-based online panel of the general population through a large-scale experiment conducted in 2020. Our experiment was specifically designed to study the effect of intensifying the surveying frequency for the treatment group (N = 5,598 panel members) during a 16-week corona study while keeping the control group (N = 799 panel members) ...
Although maritime cabotage emits comparatively less CO2 per tonne kilometre than other means of transportation, the potential contribution of Brazil’s cabotage policy toward tackling climate change remained largely unexplored throughout its legislative process. Hence, to gather insights into how climate change can be integrated into sectoral policies, we apply Kingdon’s Multiple Streams Framework (MSF) ...
