IWH Autumn Forecast: Production bottlenecks delay recovery

The German recovery made good progress over the summer 2021. However, bottlenecks in transport and production are weighing on world trade, and an increase in new infections is clouding the outlook again. The German gross domestic product (GDP) will increase by 2.2% in 2021 and 3.6% in 2022.

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IWH Bankruptcy Update: Ongoing Decline in Bankruptcy Statistics

Considerably faster than the official statistics, the IWH Bankruptcy Update provides a monthly update on corporate bankruptcy. After hitting an all-time low in July, the number of firms declaring bankruptcy fell yet again in August. A new low was also registered in the number of impacted jobs.

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Communication instead of conflict – why are female CEOs so interesting for hedge funds

Female CEOs particularly benefit from the intervention of hedge fund activists due to their strong communication and cooperation skills. The value of female-led firms is enhanced more by the intervention of activist investors than that of firms with male CEOs.

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Alone at home: Isolation during the Corona pandemic increases likelihood of selfishness

Experiencing social distancing as a measure against the Corona pandemic led participants in an IWH study to make more selfish decisions. However, a reference to norm-consistent behaviour was able to reduce this effect. Focusing on exemplary behaviour could therefore alleviate the negative social consequences of the lockdown.

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IWH issues warning of a new banking crisis

The coronavirus recession could mean the end for dozens of banks across Germany – even if Germany survives the economic crisis relatively unscathed. IWH President Reint Gropp warns of a potentially high additional burden for the already weakened real economy.

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IWH Bankruptcy Update

3000

The largest 10% of firms declaring bankruptcy in August employed a total of 3,000 individuals.

82
This was 82% lower than the previous year's figure.

Press Releases

14.09.2021 • 23/2021

Production bottlenecks delay recovery

Professor Dr Oliver Holtemöller
Abstract

The German recovery made good progress over the summer 2021. However, bottlenecks in sea transport and the production of intermediate goods are weighing on world trade. The rise in raw material prices has prompted inflation rates to spike, and an increase in new infections is clouding the outlook again. A weak final quarter is therefore to be expected. The Halle Institute for Economic Research (IWH) forecasts that German gross domestic product (GDP) will increase by 2.2% in 2021 and 3.6% in 2022 (East Germany: 1.8% and 2.8%).

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07.09.2021 • 22/2021

IWH Bankruptcy Update: Ongoing Decline in Bankruptcy Statistics

Professor Dr Steffen Müller
Abstract

After hitting an all-time low in July, the number of firms declaring bankruptcy in Germany fell yet again in August. A new low was also registered in the number of impacted jobs. These are the headline findings of the IWH Bankruptcy Report, published by the Halle Institute for Economic Research (IWH), which provides a monthly update on German bankruptcy statistics.

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05.08.2021 • 21/2021

IWH Bankruptcy Update: Bankruptcies in Germany Fall to an All-time Low

Professor Dr Steffen Müller
Abstract

The number of corporate bankruptcies in Germany fell to a historic low in July, and are not anticipated to trend higher in August, according to IWH’s leading indicators. The IWH Bankruptcy Update, published by the Halle Institute for Economic Research (IWH), provides monthly statistics on corporate bankruptcies in Germany.

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29.07.2021 • 20/2021

Communication instead of conflict – why are female CEOs so interesting for hedge funds

Professor Reint E. Gropp, PhD
Abstract

The value of female-led firms is enhanced more by the intervention of activist investors than that of firms with male CEOs. This is the result of a recent paper by Iftekhar Hasan (Fordham University and IWH) and Qiang Wu (Rensselaer Polytechnic Institute, RPI) at the Halle Institute for Economic Research (IWH). "The results show that female CEOs particularly benefit from the intervention of hedge fund activists due to their strong communication and interpersonal skills," explains Iftekhar Hasan. This is because, on average, the intervention of an activist hedge fund increases the value of the firm ex post. To achieve this, activist hedge funds such as Carl Icahn, Trian Fundmanagement or Elliott prefer to rely on communication and cooperation with the management.

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Veranstaltung
11
Oct 2021

14:15 - 15:45

IWH Research Seminar

The Tip of the Iceberg: Pre-Publication Revisions of Bank Financial Statements

Andre Guettler  Ulm University
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