Startseite
Chinesische Massenimporte stärken extreme Parteien Die Globalisierung hat den politischen Rändern in Europa...
Zur Seite
Student assistant (f/m/x) for 20 hours per week (Structural Change and Productivity)
Job Vacancy Student assistant (f/m/x) for 20 hours per week (Structural...
Zur Seite
Student assistant (f/m/x) for 8-10 hours per week (Structural Change and Productivity)
Job Vacancy Student assistant (f/m/x) for 8-10 hours per week...
Zur Seite
Mayer ref rec
Referierte Publikationen ...
Zur Seite
CompNet Database
The CompNet Competitiveness Database The Competitiveness Research Network (CompNet)...
Zur Seite
Wirtschaft im Wandel
Wirtschaft im Wandel Die Zeitschrift „Wirtschaft im Wandel“ will eine breite...
Zur Seite
Evidenzbasierte Politikberatung (IWH-CEP)
Zentrum für evidenzbasierte Politikberatung (IWH-CEP) ...
Zur Seite
Arbeitspapiere
Macroeconomic Effects from Sovereign Risk vs. Knightian Uncertainty ...
Zur Seite
Corporate Culture and Firm Value: Evidence from Crisis
Yiwei Fang, Franco Fiordelisi, Iftekhar Hasan, Woon Sau Leung, Gabriel Wong
Journal of Banking and Finance,
January
2023
Abstract
Based on the Competing Values Framework (CVF), we score 10-K text to measure company culture in four types (collaborative, controlling, competitive, and creative) and examine its role in firm stability. We find that firms with higher controlling culture fared significantly better during the 2008–09 crisis. Firms with stronger controlling culture experienced fewer layoffs, less negative asset growth, greater debt issuance, and increased access to credit-line facilities during the crisis. The positive effect of the controlling culture is stronger among the financially-constrained firms. Overall, the controlling culture improves firm stability through greater support from capital providers.
Artikel Lesen
Firm-level Employment, Labour Market Reforms, and Bank Distress
Ralph Setzer, Moritz Stieglitz
Journal of International Money and Finance,
February
2022
Abstract
We explore the impact of financial frictions on the employment effect of labour market reforms. Our study combines a new cross-country reform database on labour market reforms with matched firm-bank data for nine euro area countries over the period 1999 to 2013. While we find that labour market reforms are overall effective in increasing employment, restricted access to bank credit can undo up to half of medium to long-term employment gains at the firm-level. Entrepreneurs without sufficient access to credit cannot reap the full benefits of more flexible employment regulation.
Artikel Lesen