User profiles for Wolfgang Drobetz

Wolfgang Drobetz

Hamburg University
Verified email at uni-hamburg.de
Cited by 8845

Corporate governance and expected stock returns: Evidence from Germany

W Drobetz, A Schillhofer… - European financial …, 2004 - Wiley Online Library
Recent empirical work shows evidence for higher valuation of firms in countries with a better
legal environment. We investigate whether differences in the quality of firm‐level corporate …

An integrated framework of corporate governance and firm valuation

S Beiner, W Drobetz, MM Schmid… - European financial …, 2006 - Wiley Online Library
Recent empirical research shows evidence of a positive relationship between the quality of
firm‐specific corporate governance and firm valuation. Instead of looking at one single …

What determines the speed of adjustment to the target capital structure?

W Drobetz, G Wanzenried - Applied Financial Economics, 2006 - Taylor & Francis
A dynamic adjustment model and panel methodology are used to investigate the determinants
of a time varying target capital structure. Because firms may temporarily deviate from their …

Is board size an independent corporate governance mechanism?

S Beiner, W Drobetz, F Schmid, H Zimmermann - Kyklos, 2004 - Wiley Online Library
Using a simultaneous equations framework with a comprehensive set of publicly listed Swiss
companies, our findings suggest that the size of the board of directors is an independent …

[PDF][PDF] What are the determinants of the capital structure? Some evidence for Switzerland

W Drobetz, R Fix - University of Basel. WWZ/Department of Finance …, 2003 - Citeseer
We test leverage predictions of the trade-off and pecking order models using Swiss data. At
an aggregate level, leverage of Swiss firms is comparatively low, but the results depend …

Information asymmetry and the value of cash

W Drobetz, MC Grüninger, S Hirschvogl - Journal of banking & finance, 2010 - Elsevier
This study investigates the market value of corporate cash holdings in connection with firm-specific
and time-varying information asymmetry. Analyzing a large international sample, we …

Corporate cash holdings: Evidence from Switzerland

W Drobetz, MC Grüninger - Financial Markets and Portfolio Management, 2007 - Springer
This paper investigates the determinants of cash holdings for a comprehensive sample of
Swiss non-financial firms between 1995 and 2004. The median Swiss firm holds almost twice …

Policy uncertainty, investment, and the cost of capital

W Drobetz, S El Ghoul, O Guedhami… - Journal of Financial …, 2018 - Elsevier
We examine the effect of economic policy uncertainty on the relation between investment and
the cost of capital. Using the news-based index developed by Baker et al. (2016) for twenty…

The international zero-leverage phenomenon

W Bessler, W Drobetz, R Haller, I Meier - Journal of Corporate Finance, 2013 - Elsevier
We analyze the zero-leverage phenomenon around the world. Countries with a common
law system, high creditor protection, and a dividend imputation or dividend relief tax system …

Capital structure decisions of globally-listed shipping companies

W Drobetz, D Gounopoulos, A Merikas… - … Research Part E …, 2013 - Elsevier
Debt capital has traditionally been the most important source of external finance in the
shipping industry. The access that shipping companies nowadays have to the capital markets …