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This book celebrates the contributions of David B. Audretsch, Distinguished Professor at the School of Public and Environment Affairs (SPEA) at Indiana University (USA), co-founder and co-editor of Small Business Economics, and former Director of the Entrepreneurship, Growth and Public Policy Group at the erstwhile Max Planck Institute of Economics (Jena, Germany). For his pioneering work, which explores the links between entrepreneurship, government policy, innovation, economic development, and global competitiveness, he has received the 2001 Global Award for Entrepreneurship Research from the Swedish Foundation for Small Business Research and the 2011 Schumpeter Prize from the University of Wuppertal (Germany). This volume features original contributions from over 50 leading scholars to map, analyze and evaluate the impact of Audretsch’s research on a broad spectrum of research fields, ranging from economics to entrepreneurship and geography. The development and evolution of key ideas which have significantly shaped theory and future research across these fields are also explored.
How does bank distress impact their customers' probability of default and trade credit availability? We address this question by looking at a unique sample of German firms from 2000 to 2011. We follow their firm-bank relationships through times of distress and crisis, featuring the different transmission of bank distress shocks into already weakened firm balance sheets. We find that a distressed bank bailout, which is subject to restructuring and deleveraging conditions, leads to a bank-induced increase of firms' probabilities of default. Moreover, bailouts tend to reduce trade credit availability and ultimately firms' sales. We further find that the direction and magnitude of the effects depends on firm quality and the relationship orientation of banks.
Devoted to the history, biography, genealogy, poetry, folk-lore and general interests of the Pennsylvania Germans and their descendants.
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Auswanderung Nordamerika.