One of the most pressing public priorities in Germany at present is how to organize the energy transition. However, the cost of stabilizing the financial sector as well as the fiscal pact and the debt brake mean that the government has limited financial resources. Consequently, the availability...

One of the most pressing public priorities in Germany at present is how to organize the transformation of the energy system. However, the cost of stabilizing the financial sector as well as the fiscal pact and the debt brake mean that the state has limited financial resources. Consequently, the...

Graphical data representation is an important tool for model selection in bankruptcy analysis since the problem is highly non-linear and its numerical representation is much less transparent. In classical rating models a convenient representation of ratings in a closed form is possible reducing...

The purpose of this work is to introduce one of the most promising among recently developed statistical techniques – the support vector machine (SVM) – to corporate bankruptcy analysis. An SVM is implemented for analysing such predictors as financial ratios. A method of adapting it to...

Start-ups often lack certain knowledge and skills and are in the need of external assistance. If this external help is combined with capital we can talk about relationship financing or smart capital. In a heterogeneous financial system such as the one in Germany, which type of financier supplies...

This paper empirically investigates the link between political patronage and bank performance for Ukraine during 2003Q3-2005Q2. We find significant differences between politically affiliated and non-affiliated banks. The data suggest that affiliated banks have significantly lower interest...

The paper adopts the methodology of the empirical finance literature to analyze a common question that liability maturity structure has an impact on firm performance. A comparison is made between two countries, the US and Germany, with different types of financial systems. We find that German...

This paper examines whether financial institutions discriminate against entrepreneurs on the basis of gender. Using the cross-country Business Environment and Enterprise Performance Survey (BEEPS), we find some evidence that, compared to male-managed counterparts, female-managed firms are less...

The sustainability of the financial markets is a requirement that has only appeared on the economic policy agenda very recently, whereas a stable financial system has been a declared goal for decades. The relationship between sustainability and stability is, however, still unclear. The two terms...