Steht die als frei und unabhängig angenommene Kunst und Kulturarbeit im Widerspruch zu ihrer bürokratisch und an Sachzwängen orientierten Finanzierung? Das Diskussionspapier prüft diese These auf der Grundlage von anonymisierten Gruppengesprächen mit den Akteur:innen aus zwei Kunstvereinen....

Die Mitte der Gesellschaft wird bei der Einkommensteuer stark belastet. Das ist ein Problem, das von nahezu allen politischen Parteien erkannt wird. Eine Reform scheitert allerdings sowohl an der Frage, wo sich die Mitte befindet, als auch an der Frage der Finanzierung. In diesem Papier...

In der vorliegenden Studie untersuchen wir die Auswirkungen des Stromnetzausbaus von 651 Milliarden Euro bis 2045 auf die künftigen Netzentgelte. Die Analyse zeigt, dass das Finanzierungskonzept eine entscheidende Rolle spielt. Die Finanzierungsoption "öffentliches Eigenkapital" (ÖÖP), in...

Die Nutzung einiger Finanzierungsquellen wird davon beeinflusst, ob der Leitung eines jungen Unternehmens Frauen angehören. So zeigen Analysen auf Basis des IAB/ZEW Gründungspanels und ergänzende Expertinneninterviews, dass rein frauengeführte Unternehmen Bankkredite seltener nutzen als rein...

Die Mitgliedstaaten der Europäischen Union streiten wieder einmal über Geld. Genauer gesagt darüber, wie viel Geld sie für Verteidigung zahlen wollen, woher dieses Geld kommen soll und ob sie es gemeinsam ausgeben möchten. Unstrittig ist in Brüssel und den Hauptstädten, dass Europa sich...

The pace of globalization has slowed since the global financial crisis, raising concerns about widespread deglobalization and market fragmentation. We examine the effects of a deglobalization shock on bank lending, firm internal capital markets, and the real economy. Leveraging a unique dataset...

Well-functioning capital markets can foster economic growth and allocate resources efficiently. Firms can tap into a broader funding base by issuing debt and equity in capital markets, often at cheaper rates and longer tenors than through other sources of external finance, such as banks....

Small and medium-sized enterprises (SMEs) are vital to Albania's economy but face significant financing challenges amid monetary tightening. Utilizing firm-level data from 2022-2023, this study documents that the abrupt interest rate increases in 2022 prompted a rise in alternative financing...

This paper examines implicit gender bias in entrepreneurial financing by randomizing screenings of business investment ideas pitched in the format of the reality television show Chigign Tobiya. Keeping business idea and pitch quality constant, the experiment randomizes whether a female or male...

This study has three main objectives. The first is to analyse the measures taken by Member States to tackle the abuse or misuse of non-profit organisations (NPOs) for terrorist financing (TF) purposes, in particular those taken in response to the recommendations in the European Commission's 2005...

This study investigates the relationship between capital structure and financial performance in South African firms, focusing on the potential non-linear, inverse U-shaped effect of leverage on profitability. Drawing on data from 1548 firm-year observations covering 183 publicly listed South...

While Equity Crowdfunding (ECF) platforms are a virtual space for raising funds, geography remains relevant. To determine how location matters for entrepreneurs using equity crowdfunding (ECF), we analyze the spatial distribution of successful ECF campaigns and the spatial relationship between...

Studium und Lehre in Deutschland werden in einem komplexen Geflecht von privaten Akteuren und öffentlichen Institutionen finanziert. Inwiefern teilen sich der öffentliche und private Sektor diese Finanzierungsaufgaben? In einer Studie wurden die öffentlichen und privaten Ausgaben für das...

Purpose - The purpose of this study is to examine the relationship between government technology support and corporate innovation performance in the context of digital finance development. Design/methodology/approach - We conduct regression analyses using a sample of A-share listed companies...

This paper explores the relationship between equity crowdfunding (ECF) and the growth of Italian SMEs. Using two case studies, one in the agri-food sector and the other in cleantech, and comparing them with non-crowdfunded equivalents, we find that ECF significantly enhanced the post-campaign...

Understanding how firms finance their activities is crucial for fostering economic growth. The financial life cycle is a critical framework for understanding how firms' financing needs and strategies evolve over time. This paper examines the capital structure choices of Italian SMEs focusing on...

Understanding how small firms adapt and adjust financially following exogenous shocks is crucial and acts as a harbinger of regional financial resilience levels. Therefore, it is important to determine what shape firms are in as they emerge from a shock such as the Covid-19 pandemic,...

A vast literature has examined the contractual technology that venture capital (VC) funds and entrepreneurs deploy in the U.S. to define an agency cost-minimising structure of their relationship, leading many to conclude that U.S. VC contracts are the best real-world solution to the challenges...

Access to credit remains a universal challenge for firms, particularly for small and medium sized enterprises (SMEs). While numerous studies have examined the determinants of credit access, focusing primarily on borrower characteristics, lender policies, and formal institutional factors such as...

Several studies have investigated the determinants of firms' capital structure choices. Though an intercorporate loan is an essential source of corporate debt, there are no studies that examine the determinants of firms' preference to use the intercorporate loan as a source of debt. This study...