RESEARCH PUBLICATIONS

Journal Publications and Books

“Shareholder Protection and the Cost of Capital: Evidence from German and Italian Firms,” (2007), with Laura Rondi, Statistica Applicata (Italian Journal of Applied Statistics), vol. 18 (2), pp. 153-172.

“Can Institutional Change Impact High-Technology Firm Growth? Evidence from Germany's Neuer Markt” (2006), with David Audretsch, Journal of Productivity Analysis: Special Olympic Issue, vol. 25 (1/2), pp. 9-23.

"Finance, Control, and Profitability: An Evaluation of German Bank Influence" (2006) with Robert S. Chirinko, Journal of Economic Behavior and Organization, vol. 59(1), pp. 69-88.

“Bank Influence, Firm Performance and Survival” (2004), Corporate Ownership and Control, vol. 1 (2), pp. 65-71.

“Executive Compensation and Agency Costs in Germany” (2003) with Larry Goldberg, Journal of Banking and Finance, vol. 27(7), pp. 1391-1410.

"A Comparison of Empirical Investment Equations Using Company Panel Data for France, Germany, Belgium, and the UK" (2003) with Stephen Bond, Jacques Mairesse, and Benoit Mulkay, Review of Economics and Statistics, vol. 85 (1), pp. 153-165.

“Conflicts of Interests Between German Universal Banks and Firms” (2001) with Rajshree Agarwal, Economic Letters, vol. 72, pp. 225-232.

"Does Firm Size Matter?  Evidence on the Impacts of Liquidity Constraints on Firm Investment Behavior in Germany," (2001) with David B. Audretsch, International Journal of Industrial Organization, vol. 20, pp. 1-17.

"Market Linkages Between the US and Japan: An Application to the Fisheries Industry" (1999) with James Hastie and Dale Squires, Japan and the World Economy, vol. 11, pp. 517-530.

"Financing the German Mittelstand," (1997) with David B. Audretsch, Small Business Economics, vol. 9, pp. 97-110.   

"Dividend Policy and Investment: Theory and Evidence from US Panel Data," (1996), Managerial and Decision Economics (MDE), vol. 17, pp. 1-9.

"Le Financement de la Mittelstand Allemande"(1996), with David B. Audretsch, Revue Internationale: Petite et Moyenne Enterprise (PME), vol. 8, no. 3-4, pp. 121-147.

"US Tax Reform and Investment: Reality and Rhetoric in the 1980's" (1995), Ashgate Publishing, London, England.

"Banks, Finance and Investment in Germany: A Review Article," (1995), Small Business Economics, vol. 7, pp. 475-479.

"Bank Affiliations and Firm Capital Investment in Germany," (1994) with Horst Albach, IFO Studien: Zeitschrift fur Empirische Wirtschaftsforschung, Heft 1, pp. 1-15.

Book Chapters and Reviews

“Executive Compensation and Agency Costs in Germany” with Lawrence G. Goldberg, forthcoming in Ruud A. I. van Frederikslust, James S. Ang, and Sudi Sudarsanam (eds.) Corporate Governance and Corporate Finance: A European Perspective, (Routledge, 2007).

“Entrepreneurship and Risk” with David B. Audretsch, in Maria Minniti (ed.) Entrepreneurship: The Engine of Growth, vol. 1, (London: Praeger, 2007).

“Tax Solutions to External Costs of Obesity”, with Kenneth Stanton, David Levy, and Zoltan Acs, in Zoltan Acs and Kenneth Stanton (eds.) Obesity, Business, and Public Policy, (Boston: Kluwer, 2007)

“Does Firm Size Matter?  Evidence on the Impact of Liquidity Constraints on Firm Investment Behavior in Germany” in David Audretsch (ed.) Entrepreneurship, Innovation, and Economic Growth (London:  Edward Elgar, 2006).

“R&D Intensity, Institutions and Firm Growth in Germany” with David Audretsch, in Enrico Santarelli (ed.) Firm and Industrial Dynamics (2006).

“A Discussion of Firm Level Investment and R&D in France and the United States: A Comparison” (2001), Comment in: Investing Today for the World of Tomorrow, Deutsche Bundesbank Editor, Springer Publishing, Berlin.

"Firms, Contracts and Financial Structure", by Oliver Hart, (1997), Journal of the Japanese and International Economies, vol. 11, pp. 260-261.

"Firm Financing and Institutional Structure in Germany" (1996), with David B. Audretsch, in Nutek Inc., Financing SME's, pp. 67-89.

"The Economic Ideas of Ordinary People," by David M. Levy (1993), KYKLOS, vol. 46.

Papers and Proceedings

“The Impact of Accounting Standards and Ownership Structure on IPO Underpricing: Evidence from Germany’s Neuer Markt” (2008) with J. Jimmy Yang, conference proceedings, Annual Meeting of the Academy of Entrepreneurial Finance, September, 2008, Las Vegas, Nevada.

"Dividends and Agency Issues: Empirical Evidence From Germany"  (2008) with Nalinaksha Bhattacharyya, conference proceedings, Atlantic Schools of Business Conference, St. John's Newfoundland.

“On the European Dilemma: Matching Unemployment and Capital Accumulation in Germany” (2003) with O. Mikhail, University of Central Florida working paper.

“The New Economy in Germany and the US: Policy Challenges and Solutions” (2002) Policy Paper series of the American Institute for Contemporary German Studies (AICGS).

“An Examination of the Relationship Between Firm Size, Growth, and Liquidity in the Neuer Markt” (2002), Deutsche Bundesbank Discussion Paper 15/02, Frankfurt Germany.

"Banking Relationships In Germany: Empirical Results and Policy Implications" (with Robert Chirinko in Federal Reserve Bank of Chicago, Rethinking Bank Regulation: What Should Regulators Do? (Chicago: Federal Reserve Bank of Chicago, 1996), 239-255.

“Dividend Policy, Liquidity Constraints and Firm Investment in Germany” (2001), University of Central Florida working paper.

“Are Capital Markets Perfect? Evidence from U.S. Panel Data”, Julie Ann Elston, (1993),  Discussion Papers, Wissenschaftszentrum Berlin Fur Sozialforschung (WZB), FS IV 93-7, ISSN Nr.: 0722-6748.

RESEARCH UNDER REVIEW AND IN PROGRESS

“Corporate Governance and Capital Accumulation: Firm Level Evidence from Italy,” (2008) with Laura Rondi.

“Financing the Entrepreneurial Decision:  An Empirical Approach Using Experimental Data on US High Technology Entrepreneurs,” (2008) with David Audretsch.

“Dividends, Executive Compensation, and Agency Costs:  Empirical Evidence from Germany,” (2008) with Nalinaksha Bhattacharyya.

“Ownership Structure, Venture Capital, and IPO Underpricing:  Evidence from Germany,” (2008) with J. Jimmy Yang.

“Experimental Methods in Entrepreneurship Research” (2005) with David Audretsch and Glenn Harrison, University of Central Florida working paper.

“Characterizing the Entrepreneur: (2005) with Lisa Rutstrom and Glenn Harrison, University of Central Florida working paper (http://www.bus.ucf.edu/wp/content/archives/05-30Glenn.pdf).

“On the European Dilemma: Matching Unemployment and Capital Accumulation in Germany” (2003) with O. Mikhail, University of Central Florida working paper.

“Dividend Policy, Agency Costs, and Institutional Ownership in Germany” (2003), with Richard Hofler and Junsoo Lee, University of Central Florida working paper.

 “Dividend Policy, Liquidity Constraints and Firm Investment in Germany” (2001), University of Central Florida working paper.