Tax equity investors in renewable power projects, generally large banks, have deep investment experience but little technological expertise. Do they add value commensurate with the premium that they charge? In 405 U.S. solar and wind projects from 2007-2021, tax equity investors are associated...

Most bank efficiency studies that use stochastic frontier analysis (SFA) employ each bank's own implicit input price when estimating efficient frontiers. But the theoretical foundation of most studies is a cost minimisation and/ or profit maximisation problem assuming perfect input markets. At...

German banks experienced a merger wave throughout the 1990s. However, the success of bank mergers remains a continuous matter of debate. In this paper we suggest a taxonomy as how to evaluate post-merger performance on the basis of cost efficiency (CE). We categorise mergers a success that...

Michael Deeken und Tobias Fuchs plädieren in diesem essential für die Einführung bzw. Nutzung eines Agilen Managements. Die Autoren gehen davon aus, dass sich positive Effekte der Digitalisierung erst entfalten können, wenn in den betreffenden Unternehmen zuvor die entsprechenden...

The authors study banking using the tools of mechanism design, without a priori assumptions about what banks are, who they are, or what they do. Given preferences, technologies, and certain frictions - including limited commitment and imperfect monitoring - they describe the set of incentive...