IWH Research Seminar

What happens in Vegas stays in Vegas: Proximity Bias in CSR

We study stock market reactions to negative corporate social responsibility (CSR) incidents concerning 7,000 multinational firms from 97 countries over the 2007-2015 period.

IWH Research Seminar

Dynamic Risk-Shifting, APR-violations, and Chapter 11: The Role of "Soft” versus "Tough” Bankruptcy Code Design

We show that there are two separate incentive effects of soft law working in opposite directions, the “NoAPR- effect” and the “Chapter 11-effect”, respectively.

IWH Research Seminar

When Subadditivity Becomes a Problem: Coherent Risk Measures and Optimal Futures Hedging with Background Risk

In this paper, we analyze standard futures hedging problems with and without background risk under law invariant coherent risk measures.

IWH Research Seminar

Technological Change and Skill Demand in Non-Competitive Labor Markets

This paper investigates the consequences of technological change in the presence of non-competitive labor markets. We propose a model of technological progress where firms invest in innovation in the hope of developing new technologies.

IWH Research Seminar

Netting

We present a model to explain why banks maintain off-setting long-term debts without netting them out.

IWH Research Seminar

Caught between climate strike and climate cabinet – What to make of the German Government’s Climate Action Programme 2030

IWH Research Seminar

Innovating Banks and Local Lending

We study the effects of financial and technological innovation by banks on local competition for deposits and credit supply.

IWH Research Seminar

Pyramidal Business Groups and Regulation: Evidence from the United States, Japan, Korea and Israel