Institut für Bank-, Finanz und Gründungsmanagement (IBFG)
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- Bankenkrisen (1)
- Bankenrettung (1)
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- Finanzstabilität (1)
- Investition (1)
- Too-big to-fail (1)
- Unternehmensgründung (1)
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- Wettbewerb (1)
- bank bailout (1)
The dissertation analyzes the role of large banks in the context of financial (in)stability. Based on the underlying “too big to fail”-problem (TBTF), the three included papers investigate the reasons for the instability of banking systems on a national and international level. Already in advance, but at least since the years 2007/2008 with the escalation of the financial crisis, especially large banks are under critical supervision of regulators and the society. There exist numerous aspects that should to be taken into account when addressing TBTF which complicates the finding of a solution to the problem. In particular, the thesis investigates three major issues in this context: 1.) The contribution of the size of a bank to the development of financial crises or the exposure of large banks to systematic risk and contagious spillovers. 2) The spillover effects from one banking system to another and the importance of banks’ foreign asset holdings for the transmission of sovereign risk on foreign banks. 3.) The impact of the degree of competition in the German banking market on the stability of the banking system.
In 2013, the European Commission adopted the so called ´Entrepreneurship 2020 Action Plan´ to ease the creation of new ventures and to support the takeover of existing firms. The goal is to create a supportive environment for entrepreneurs to thrive and grow (European Commission 2013). This shows that the European Union puts its efforts to support small firms as they are seen as means for Europe´s sustainable economic growth. However, the successful processes of growth and investment are complex and depend on different determinants. The present thesis focuses on the firm level and analyzes in three independent articles: how small firms invest over time, how new ventures grow and which variables influence growth, how small firms grow after business takeover and which variables influence growth. The framework that connects these articles forms the content-related focus on the early stage of development of small firms and the methodological and analytical approaches that comply with up-to-date and adequate statistical analysis techniques. Supported by an extensive dataset, which is the foundation of all three articles, it is possible to investigate empirically different open research questions using bivariate and multivariate analysis techniques. Thus, this thesis also serves the research needs for more multivariate analyses for small firms, for which so far mainly cross-sectional studies have been conducted.
