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FINESS Working Papers 3.1 / 2009

Are Private Equity Investors Good or Evil?

The paper investigates the motives of activity (entry and exit) of Private Equity (PE) investors in European companies. Investment of a PE firm is not viewed unambiguously. First, it is claimed that PE investment is made for the sake of seeking shortterm gains by taking control and utilizing the company's resources. Second, a PE firm invests because of prior identification of chances to add value to ...

2009| Oleg Badunenko, Nataliya Barasinska, Dorothea Schäfer
FINESS Working Papers 6.1 / 2009

Risk Attitudes and Investment Decisions across European Countries: Are Women More Conservative Investors than Men?

This study questions the popular stereotype that women are more risk averse than men in their financial investment decisions. The analysis is based on micro-level data from large-scale surveys of private households in five European countries. In our analysis of investment decisions, we directly account for individuals' self-perceived willingness to take financial risks. The empirical evidence we provide ...

2009| Oleg Badunenko, Nataliya Barasinska, Dorothea Schäfer
Externe referierte Aufsätze

Smart Capital in German Start-ups: An Empirical Analysis

What kind of smart capital relational investors actually supply, especially in a bank-based financial system such as the German one, is still an open question. We divide smart capital into single components and conduct a survey with 85 German suppliers of start-up finance. The results show that the degree of 'smartness' is determined by the financial product used and partly also by the financiers' ...

In: Venture capital 11 (2009), 2, S. 163-183 | Dorothea Schäfer, Dirk Schilder
Diskussionspapiere 944 / 2009

How Stable Are Monetary Models of the Dollar-Euro Exchange Rate? A Time-Varying Coefficient Approach

This paper examines the significance of different fundamental regimes by applying various monetary models of the exchange rate to one of the politically most important exchange rates, the exchange rate of the US dollar vis-à-vis the euro (the DM). We use monthly data from 1975:01 to 2007:12. Applying a novel time-varying coefficient estimation approach, we come up with interesting properties of our ...

2009| Joscha Beckmann, Ansgar Belke, Michael Kühl
Externe referierte Aufsätze

Demand Side Analysis of Microlending Markets in Germany

In developing and transition economies, microlending has become an effective instrument for providing micro businesses with the necessary financial resources to launch operations. In industrialized countries, with their highly developed banking systems, however, there has been ongoing debate on the question of whether an uncovered demand for microlending services exists. The present pilot study explores ...

In: Jahrbücher für Nationalökonomie und Statistik 229 (2009), 5, S. 523-543 | Alexander S. Kritikos, Christoph Kneiding, Claas Christian Germelmann
Diskussionspapiere 942 / 2009

Global and Regional Spillovers in Emerging Stock Markets: A Multivariate GARCH-in-Mean Analysis

This paper examines global (mature market) and regional (emerging market) spillovers in local emerging stock markets. Tri-variate VAR GARCH(1,1)-in-mean models are estimated for 41 emerging market economies (EMEs) in Asia, Europe, Latin America, and the Middle East. The models capture a range of possible transmission channels: spillovers in mean returns, volatility, and cross-market GARCH-in-mean effects. ...

2009| John Beirne, Guglielmo Maria Caporale, Marianne Schulze-Ghattas, Nicola Spagnolo
Diskussionspapiere 928 / 2009

Risk Attitudes and Investment Decisions across European Countries: Are Women More Conservative Investors than Men?

This study questions the popular stereotype that women are more risk averse than men in their financial investment decisions. The analysis is based on micro-level data from large-scale surveys of private households in five European countries. In our analysis of investment decisions, we directly account for individuals' self-perceived willingness to take financial risks. The empirical evidence we provide ...

2009| Oleg Badunenko, Nataliya Barasinska, Dorothea Schäfer
Diskussionspapiere 932 / 2009

Testing for Convergence in Stock Markets: A Non-linear Factor Approach

This paper applies the Phillips and Sul (2007) method to test for convergence in stock returns to an extensive dataset including monthly stock price indices for five EU countries (Germany, France, the Netherlands, Ireland and the UK) as well as the US over the period 1973-2008. We carry out the analysis on both sectors and individual industries within sectors. As a first step, we use the Stock and ...

2009| Guglielmo Maria Caporale, Burcu Erdogan, Vladimir Kuzin
Diskussionspapiere 940 / 2009

Financial Development and Economic Growth: Evidence from Ten New EU Members

This paper reviews the main features of the banking and financial sector in ten new EU members, and then examines the relationship between financial development and economic growth in these countries by estimating a dynamic panel model over the period 1994-2007. The evidence suggests that the stock and credit markets are still underdeveloped in these economies, and that their contribution to economic ...

2009| Guglielmo Maria Caporale, Christophe Rault, Robert Sova, Anamaria Sova
Monographien

Demand Side Analysis of Microlending Markets in Germany

Bonn: IZA, 2009, 27 S.
(Discussion Paper Series / Forschungsinstitut zur Zukunft der Arbeit ; 4292)
| Alexander S. Kritikos, Christoph Kneiding, Claas Christian Germelmann
738 results, from 621
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