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The top 100 international (re)insurance groups account for 85% of the global insurance assets and thus are the driving force of the global insurance supply. Yet little is known about their internal structure, business focus and the international footprint. We fill the gap by providing the first...
Persistent link: https://www.econbiz.de/10013307232
firms. Using patents and citations scaled by R&D expenses and R&D capital as measures of innovation efficiency, we find that … multinational firms have lower levels of innovation efficiency than purely domestic firms. This finding has been supported by … innovation efficiency adversely.Our results further suggest that innovation efficiency is more valuable to multinational firms …
Persistent link: https://www.econbiz.de/10013062836
The supposed ubiquity of potential efficiencies is understood to justify permitting most horizontal mergers despite their tendency to raise prices. Yet efficiencies are said to be rarely decisive in actual merger decision-making. Moreover, the economic analysis of merger efficiencies lags far...
Persistent link: https://www.econbiz.de/10013237386
Persistent link: https://www.econbiz.de/10011696674
As the 2008 financial crisis spread globally, it became widely apparent that an essential ingredient to preventing future systemic crises was reform of the regulation of financial markets. Two ambitious initiatives for regulatory reform are the European Union's European System of Financial...
Persistent link: https://www.econbiz.de/10014186176
This essay was published as part of a law review symposium that evaluated my work on theregulation of large, complex financial institutions. Part I of my essay discusses the other articlespublished in the symposium issue and describes their relationship to my own work. Part IIanalyzes the global...
Persistent link: https://www.econbiz.de/10014082587
We analyze how financial crises affect international financial integration, exploiting euro area proprietary interbank data, crisis and monetary policy shocks, and variation in loan terms to the same borrower on the same day by domestic versus foreign lenders. Crisis shocks reduce the supply of...
Persistent link: https://www.econbiz.de/10012948677
Tremendous efforts and initiatives have been proposed by policy makers to minimize the sever shocks of the recent banking crisis through variety of domestic macro gears as the international transmission shocks are evidently challenging to handle. This study aims to explore the global contagion...
Persistent link: https://www.econbiz.de/10012983997
The global financial crisis triggered a vast number of new laws and regulations at international level, including initiatives that can be classified as "soft law". The legitimacy and efficacy of these new norms are subject to intensive academic and political debates. At the same time, soft law...
Persistent link: https://www.econbiz.de/10012903436
This paper presents the novel results from an internationally coordinated project by the International Banking Research Network (IBRN) on the cross-border transmission of conventional and unconventional monetary policy through banks. Teams from seventeen countries use confidential micro-banking...
Persistent link: https://www.econbiz.de/10012911041