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Warum begeben Unternehmen Wandelanleihen?

Drobetz, Wolfgang; Grüninger, Matthias C.; Wöhle, … - 2006 - Version: 24. Juli 2006

österreichischen börsenkotierten Unternehmen über deren Motive zur Emission von Wandelanleihen vor. Die Antworten der Unternehmen … bestätigen die Backdoor- Equity-Hypothese, wonach Unternehmen in der Emission von Wandelanleihen eine Möglichkeit sehen, ihr … Untersuchungen, die sich allerdings mehrheitlich auf US-Unternehmen beziehen. …

Persistent link: https://www.econbiz.de/10011570304

What determines the speed of adjustment to the target capital structure?

Drobetz, Wolfgang; Wanzenried, Gabrielle - 2004

We use a dynamic adjustment model and panel methodology to investigate the determinants of a time-varying optimal capital structure. Because firms may temporarily deviate from their optimal capital structure in the presence of adjustment costs, we also endogenize the adjustment process. In...

Persistent link: https://www.econbiz.de/10011570398

Corporate Governance, Unternehmensbewertung und Wettbewerb : eine Untersuchung für die Schweiz ; Diskussionsbeitrag für das Ottobeuren-Seminar, 13.-15. September 2004

Beiner, Stefan; Drobetz, Wolfgang; Schmid, Markus M.; … - Wirtschaftswissenschaftliches Seminar <34, 2004, Ottobeuren> - 2004

Persistent link: https://www.econbiz.de/10011570425

Estimating the cost of executive stock options : evidence from Switzerland

Drobetz, Wolfgang (contributor); Pensa, Pascal (contributor) - 2007

It is often argued that Black-Scholes (1973) values overstate the subjective value of stock options granted to risk-averse and under-diversified executives. We construct a "representative" Swiss executive and extend the certainty- equivalence approach presented by Hall and Murphy (2002) to...

Persistent link: https://www.econbiz.de/10003666884

The determinants of the German corporate governance rating

Drobetz, Wolfgang; Gugler, Klaus; Hirschvogl, Simone - 2004

This paper analyzes the determinants of the German corporate governance rating recently developed by Drobetz, Schillhofer, and Zimmermann (2004). We find a non- linear relationship between ownership concentration and the quality of firmlevel corporate governance as measured by the rating. Firms...

Persistent link: https://www.econbiz.de/10011570371

Workplace health promotion and labour market performance of employees

Huber, Martin; Lechner, Michael; Wunsch, Conny - 2014 - This draft: June 2014

This paper investigates the average effects of (firm-provided) workplace health promotion measures in form of the analysis of sickness absenteeism and health circles/courses on labour market outcomes of the firms' employees. Exploiting linked employer-employee panel data that consist of rich...

Persistent link: https://www.econbiz.de/10010499822

Do long-term unemployed workers benefit from targeted wage subsidies?

Schünemann, Benjamin; Lechner, Michael; Wunsch, Conny - 2013 - This version: March 29, 2013

We evaluate a wage subsidy program that is targeted at long-term unemployed workers in Germany. We use an alternative …

Persistent link: https://www.econbiz.de/10010232410

The effect of firms' partial retirement policies on the labour market outcomes of their employees

Huber, Martin; Lechner, Michael; Wunsch, Conny - 2013

In this paper, we assess the impact of firms introducing part-time work schemes for gradual labour market exit of elderly workers on their employees' labour market outcomes. The analysis is based on unique linked employer-employee data that combine high-quality survey and administrative data....

Persistent link: https://www.econbiz.de/10010232411

Do firms benefit from active labour market policies?

Lechner, Michael; Wunsch, Conny; Scioch, Patrycja - 2013

This paper investigates the link between variation in the supply of workers who participate in specific types of active labour market policies (ALMPs) and firm performance using a new exceptionially informative German employer-employee data base. For identification we exploit that German local...

Persistent link: https://www.econbiz.de/10010232412

Conditional performance evaluation for German mutual equity funds

Bessler, Wolfgang (contributor); … - 2007

We investigate the performance of a sample of German mutual equity funds over the period from 1994 to 2003. Our general finding is that mutual funds, on average, hardly produce excess returns relative to their benchmark that are large enough to cover their expenses. This conclusion is drawn from...

Persistent link: https://www.econbiz.de/10003666807