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dc.contributor.authorEngel, Dirken
dc.contributor.authorMiddendorf, Torgeen
dc.date.accessioned2007-06-11-
dc.date.accessioned2009-08-06T09:01:38Z-
dc.date.available2009-08-06T09:01:38Z-
dc.date.issued2007-
dc.identifier.isbn978-3-936454-99-Xen
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
dc.language.isoengen
dc.publisher|aRheinisch-Westfälisches Institut für Wirtschaftsforschung (RWI) |cEssenen
dc.relation.ispartofseries|aRuhr Economic Papers |x7en
dc.subject.jelG32en
dc.subject.jelD92en
dc.subject.jelL21en
dc.subject.jelC23en
dc.subject.ddc330en
dc.subject.keywordInvestmenten
dc.subject.keywordRelationship Bankingen
dc.subject.keywordPanel Dataen
dc.subject.keywordGMMen
dc.subject.stwInvestitionen
dc.subject.stwUnternehmensfinanzierungen
dc.subject.stwVerschuldungsrestriktionen
dc.subject.stwCash Flowen
dc.subject.stwBankensystemen
dc.subject.stwÖffentliche Banken
dc.subject.stwSchätzungen
dc.subject.stwDeutschlanden
dc.titleInvestment, Internal Funds and Public Banking in Germany-
dc.typeWorking Paperen
dc.identifier.ppn531212092en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:rwirep:7en

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