We use a dynamic framework and panel methodology to investigate the determinants of a firms' time-varying capital structure. Our sample comprises 706 European firms from France, Germany, Italy and the U.K. over the period from 1983 to 2002. If capital structure adjustment is costly, firms may...

Many people have a strong preference to own the house or apartment they are living in. Among other factors, homeownership is expected to affect the subjective well-being of individuals. Our paper analyzes the impact of homeownership on subjective well-being in Switzerland. Based on the data from...

This paper analyzes capital structure determinants of UK and continental European firms. Besides considering firm-specific characteristics, it looks at the impact of different corporate governance systems on the capital structure choice. The dynamic framework allows to analyze the adjustment...

This paper analyzes the profitability of 453 commercial banks in Switzerland over the period from 1999 to 2008. In order to take into account the impacts of the recent financial crisis, we additionally consider the pre-crisis period and the crisis years 2007-2008 separately. Our profitability...

This paper contributes to the very small empirical literature on the effects of competition on managerial incentive schemes. Based on a theoretical model that incorporates both strategic interaction between firms and a principal agent relationship, we analyze the relationship between product...

Structural equation modeling (SEM) has become the methodology of choice for many family business researchers investigating complex relationships between latent constructs, such as family harmony or family cohesion. Its capability to evaluate complex measurement models and structural paths...