أعرض تسجيلة المادة بشكل مبسط

dc.creator Elston, Julie Ann
dc.creator Chirinko, Robert S.
dc.date 2004
dc.date.accessioned 2013-10-16T07:07:49Z
dc.date.available 2013-10-16T07:07:49Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/19971
dc.identifier ppn:494499672
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/19971
dc.description Bank intermediated finance has been cited frequently as the preferred means for channeling funds from savers to firms. Germany is the prototypical economy where universal banks allegedly exert substantial influence over firms. Despite frequent assertions about the considerable power of German banks and the advantages of a bank relation, empirical support is mixed. With a unique dataset and a focus on the fragility/sturdiness of inferences, this paper evaluates German bank influence in terms of three hypotheses : 1) do bank influenced firms enjoy lower finance costs? [No]; 2) is bank influence a solution to control problems? [Yes]; 3) do bank influenced firms have higher profitability? [No]. Coupled with results about the control consequences of concentrated ownership, these results suggest that bank influence serves as a substitute control mechanism, one of several available for addressing corporate control problems.
dc.language eng
dc.publisher
dc.relation Papers on entrepreneurship, growth and public policy 2604
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject G32
dc.subject G21
dc.subject G34
dc.subject ddc:330
dc.subject German Banks
dc.subject Corporate Finance and Governance
dc.subject Universalbank
dc.subject Finanzierung
dc.subject Lieferanten-Kunden-Beziehung
dc.subject Corporate Governance
dc.subject Kapitalkosten
dc.subject Rentabilität
dc.subject Schätzung
dc.subject Deutschland
dc.title Finance, control, and profitability : the influence of German banks
dc.type doc-type:workingPaper


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أعرض تسجيلة المادة بشكل مبسط