IDEAS home Printed from https://ideas.repec.org/a/zbw/wistat/253430.html
   My bibliography  Save this article

Varieties of Corporate Saving – die politische Ökonomie aggregierter Unternehmensersparnisse

Author

Listed:
  • Kläffling, David

Abstract

Dieser Artikel untersucht politökonomische Einflussfaktoren auf die aggregierten Ersparnisse des Unternehmenssektors. Der Fokus liegt dabei auf dem Verteilungskonflikt zwischen dem Management und den Kapitalgebern über die Höhe der Gewinnausschüttungen. Im Zentrum steht die Frage, inwiefern Heterogenität in politökonomischen Institutionen, wie etwa im Hinblick auf den Grad des Anlegerschutzes oder auf die Relevanz von Bankkrediten zur Unternehmensfinanzierung, Unterschiede in der aggregierten Sparquote von Nichtfinanzunternehmen erklären kann. Dafür wird ein Modell mit Paneldaten aus 20 Industrieländern über einen Zeitraum von 30 Jahren geschätzt. Die Ergebnisse zeigen, dass stärkere Eingriffsmöglichkeiten der Anteilseigner im Aggregat mit weniger Ersparnissen und höheren Ausschüttungen einhergehen.

Suggested Citation

  • Kläffling, David, 2022. "Varieties of Corporate Saving – die politische Ökonomie aggregierter Unternehmensersparnisse," WISTA – Wirtschaft und Statistik, Statistisches Bundesamt (Destatis), Wiesbaden, vol. 74(2), pages 42-52.
    • Handle: RePEc:zbw:wistat:253430
    as

    Download full text from publisher

    File URL: https://www.econstor.eu/bitstream/10419/253430/1/wista-2022-2-042-052.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Tan, Zhibo & Yao, Yang & Wei, Shang-Jin, 2015. "Financial structure, corporate savings and current account imbalances," Journal of International Money and Finance, Elsevier, vol. 54(C), pages 142-167.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Hejie Zhang & Huiming Lv & Shenghau Lin, 2021. "Financial Development, Saving Rates, and International Economic Volatility: A Simple Model," Mathematics, MDPI, vol. 9(16), pages 1-20, August.
    2. Klug, Thorsten & Mayer, Eric & Schuler, Tobias, 2022. "The corporate saving glut and the current account in Germany," Journal of International Money and Finance, Elsevier, vol. 121(C).
    3. Xiaohui Liu & Zhihao Zhou & Jing Zhang, 2023. "Longevity, Fertility, and the Real Exchange Rate," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 31(2), pages 26-57, March.
    4. Krittika Banerjee & Ashima Goyal, 2021. "Current account imbalances: Exploring role of domestic and external factors for large emerging markets," Indira Gandhi Institute of Development Research, Mumbai Working Papers 2021-001, Indira Gandhi Institute of Development Research, Mumbai, India.
    5. Leonor Coutinho & Alessandro Turrini & Stefan Zeugner, 2018. "Methodologies for the Assessment of Current Account Benchmarks," European Economy - Discussion Papers 086, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    6. Bermpei, Theodora & Karadimitropoulou, Aikaterini & Triantafyllou, Athanasios & Alshalahi, Jebreel, 2023. "Does commodity price uncertainty matter for the cost of credit? Evidence from developing and advanced economies," Journal of Commodity Markets, Elsevier, vol. 29(C).
    7. Wang, Xun, 2022. "Financial liberalization and the investment-cash flow sensitivity," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 77(C).
    8. Julio Pindado & Ignacio Requejo & Juan C. Rivera, 2020. "Does money supply shape corporate capital structure? International evidence from a panel data analysis," The European Journal of Finance, Taylor & Francis Journals, vol. 26(6), pages 554-584, April.
    9. Coutinho, Leonor & Turrini, Alessandro & Zeugner, Stefan, 2022. "Assessing the euro area current account," Journal of International Money and Finance, Elsevier, vol. 121(C).
    10. Arkadiusz J. Derkacz & Agnieszka Dudziak, 2021. "Savings and Investment Decisions in the Polish Energy Sector," Sustainability, MDPI, vol. 13(2), pages 1-13, January.
    11. Yushi Yoshida & Weiyang Zhai, 2021. "Revisiting the Glick–Rogoff Current Account Model: An Application to the Current Accounts of BRICS Countries," Dynamic Modeling and Econometrics in Economics and Finance, in: Gilles Dufrénot & Takashi Matsuki (ed.), Recent Econometric Techniques for Macroeconomic and Financial Data, pages 265-291, Springer.
    12. Behringer, Jan & van Treeck, Till, 2018. "Income distribution and the current account," Journal of International Economics, Elsevier, vol. 114(C), pages 238-254.
    13. Ma, Yong & Yao, Chi, 2022. "Openness, financial structure, and bank risk: International evidence," International Review of Financial Analysis, Elsevier, vol. 81(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:zbw:wistat:253430. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ZBW - Leibniz Information Centre for Economics (email available below). General contact details of provider: https://edirc.repec.org/data/stagvde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.