09.07.2026 • 20/2026
IWH-Insolvenztrend: Firmenpleiten im zweiten Quartal auf höchstem Stand seit mehr als zwei Jahrzehnten
Wie das Leibniz-Institut für Wirtschaftsforschung Halle (IWH) in einer heute veröffentlichten Analyse feststellt, stieg die Zahl der Insolvenzen von Personen- und Kapitalgesellschaften in Deutschland im Juni erneut an. Im zweiten Quartal 2026 gab es so viele Firmenpleiten wie seit 21 Jahren nicht mehr. Der Anstieg erfasst nahezu alle großen Branchen.
Steffen Müller
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Employment Effects of Investment Grants and Firm Heterogeneity
Eva Dettmann, Antje Weyh, Mirko Titze
Regional Studies,
Vol. 59 (1),
2025
Abstract
This study estimates the firm-level employment effects of investment grants in Germany. In addition to the average treatment effect on the treated, we examine discrimination in the funding rules as a potential source of effect heterogeneity. We combine a staggered difference-in-differences approach with a matching procedure at the cohort level. The findings reveal a positive effect of investment grants on employment development. The subsample analyses yield strong evidence for heterogeneous effects based on firm characteristics and the economic environment. They highlight the responsibility of the local funding authorities to clarify ex ante which goals of a funding programme are most important in their regions.
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Research Data Centre
Research Data Centre (IWH-RDC) Direct link to our Data Offer The IWH Research Data Centre offers external researchers access to microdata and micro-aggregated data sets that…
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07.08.2025 • 23/2025
IWH-Insolvenztrend: Mehr Firmenpleiten im Juli
Wie das Leibniz-Institut für Wirtschaftsforschung Halle (IWH) in einer heute veröffentlichten Analyse feststellt, ist die Zahl der Insolvenzen von Personen- und Kapitalgesellschaften in Deutschland im Juli deutlich angestiegen. Die Zahl der betroffenen Jobs ging zurück.
Steffen Müller
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‘And Forgive Us Our Debts’: Christian Moralities and Over-indebtedness
Iftekhar Hasan, Konstantin Kiesel, Felix Noth
Journal of Financial Research,
Vol. 48 (3),
2025
Abstract
This paper analyses whether Christian moralities and rules formed differently by Catholics and Protestants impact the likelihood of households to become overindebted. We find that over-indebtedness is lower in regions in which Catholics outweigh Protestants, indicating that Catholics‘ forgiveness culture and a stricter enforcement of rules by Protestants serve as explanations for our results. Our results provide evidence that religion affects the financial situations of individuals and show that even 500 years after the split between Catholics and Protestants, the differences in the mind-sets of both denominations play an important role for situations of severe financial conditions.
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Centre for Evidence-based Policy Advice
Centre for Evidence-based Policy Advice (IWH-CEP) The Centre for Evidence-based Policy Advice (IWH-CEP) of the IWH was founded in 2014. It is a platform that bundles and…
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IWH Subsidy Database
IWH Subsidy Databse The microdatabase currently comprises nine data sets on direct business subsidy programmes in Germany. The programme statistics kept by the project sponsors…
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Alumni
IWH Alumni The IWH maintains contact with its former employees worldwide. We involve our alumni in our work and keep them informed, for example, with a newsletter. We also plan…
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10th Vintage
The CompNet 10th Vintage Dataset 10th Vintage dataset is now available! The CompNet dataset provides a comprehensive set of micro-aggregated indicators, specifically designed to…
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Research Clusters
Three Research Clusters Each IWH research group is assigned to a topic-oriented research cluster. The clusters are not separate organisational units, but rather bundle the…
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