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dc.contributor.authorEngel, Dirken_US
dc.contributor.authorMiddendorf, Torgeen_US
dc.date.accessioned2007-06-11en_US
dc.date.accessioned2009-08-06T09:01:38Z-
dc.date.available2009-08-06T09:01:38Z-
dc.date.issued2007en_US
dc.identifier.urihttp://hdl.handle.net/10419/26772-
dc.description.abstractPrevious studies argued that low investment-cash flow sensitivities of German firms may be caused by dominance of public banking.The paper addresses this topic and applies a unique accounting dataset of German firms. Results from a dynamic panel data approach show that the dependence of investment spending on internal funds does not significantly differ between firms attached to savings banks, cooperative banks or commercial banks. Thus, the importance of the public banking sector in Germany may not explain the rather low dependence of firms on internal funds and public ownership of borrowers seems not essential to reduce financing constraints.en_US
dc.language.isoengen_US
dc.publisherRWI Essenen_US
dc.relation.ispartofseriesRuhr economic papers 7en_US
dc.subject.jelG32en_US
dc.subject.jelD92en_US
dc.subject.jelL21en_US
dc.subject.jelC23en_US
dc.subject.ddc330en_US
dc.subject.keywordInvestmenten_US
dc.subject.keywordRelationship Bankingen_US
dc.subject.keywordPanel Dataen_US
dc.subject.keywordGMMen_US
dc.subject.stwInvestitionen_US
dc.subject.stwUnternehmensfinanzierungen_US
dc.subject.stwVerschuldungsrestriktionen_US
dc.subject.stwCash Flowen_US
dc.subject.stwBankensystemen_US
dc.subject.stwÖffentliche Banken_US
dc.subject.stwSchätzungen_US
dc.subject.stwDeutschlanden_US
dc.titleInvestment, internal funds and public banking in Germanyen_US
dc.typeWorking Paperen_US
dc.identifier.ppn531212092en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:Ruhr Economic Papers, RWI
Publikationen von Forscherinnen und Forschern des RWI

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