1. Refereed Journal // 2017

    What Do a Million Observations Have to Say About Loan Defaults? Opening the Black Box of Relationships

    Using a unique dataset of more than 1 million loans made by 296 German banks, we evaluate the impact of many aspects of customer–bank relationships on loan default rates. Our research suggests a practical…

  2. Refereed Journal // 2017

    Covenant Violations, Loan Contracting, and Default Risk of Bank Borrowers

    Are borrowers rewarded for repaying their loans? This paper investigates the consequences of covenant violations on subsequent loans to the same borrower using a hand-collected sample of US syndicated loans…

  3. ZEW-PwC-China Economic Barometer // 2017

    Third Quarter 2017

    • Sharp Increase in Marcoeconomic Expectations: Highest Level Since the End of 2013
    • China's Foreign Trade Gaining in Importance
    • More Chinese Acquisitions Expected in Germany
  4. Refereed Journal // 2017

    Revisiting the Risk of Automation

    In light of rapid advances in the fields of Artificial Intelligence (AI) and robotics, many scientists discuss the potentials of new technologies to substitute for human labour. Fuelling the economic debate,…

  5. ZEW Documentation No. 17-04 // 2017

    Innovation Activities of Firms in Germany – Results of the German CIS 2012 and 2014

    Innovation is regarded as a key driver of productivity and market growth and thus has a great potential for increasing wealth. Surveying innovation activities of firms is an important contribution to a better…

  6. Refereed Journal // 2017

    Does energy policy hurt international competitiveness of firms? A comparative study for Germany, Switzerland and Austria

    This paper investigates the impact of energy policies on the export performance of firms. There has been a long policy debate on potentially negative impacts of cost-increasing energy policies on international…