Das Flaggschiff des europäischen Gesellschaftsrechts ist im Oktober 2004 endgültig vom Stapel gelaufen. Viele Unternehmen schätzen schon heute die neue Rechtsform der Europäischen Aktiengesellschaft, weil sie es ermöglicht, grenzüberschreitend nach einheitlichen europäischen Regeln zu...

Entrepreneurs often struggle to find sufficient funding for their start-ups. A relatively new way for companies to attract capital is via an internet platform, locating investors who in return receive something in return for their ventures. Equity crowdfunding is one of several types of...

Order flow imbalance refers to the difference between market buy and sell orders during a given period. This paper is the first study to examine effects of order flow imbalance on returns of stocks traded on the German Xetra trading system on a daily basis. In contrast to previous studies on...

Order flow imbalance refers to the difference between market buy and sell orders during a given period. This paper analyzes effects of order flow imbalance on returns of stocks traded on the German Xetra trading system on a daily basis. It is the first study examining this relation for the...