23:00 Schmalenbach Business Review - SBR Special Issue: The Future of Corporate Financing in Europe | |
Call For Papers
Schmalenbach Business Review - SBR Special Issue: The Future of
Corporate Financing in Europe
Editors of the Special Issue: Rudiger Fahlenbrach (Ecole Polytechnique
Federale de Lausanne and Swiss Finance Institute) Dirk Hackbarth
(Boston University) Jorg Rocholl (ESMT) Erik Theissen (University of
Mannheim and University of Graz) Marliese Uhrig-Homburg (Karlsruhe
Institute for Technology)
OVERVIEW: Europe has traditionally been characterized by the
predominance of bank lending over other forms of financing such as
financing through markets. European companies face an increasing
number of challenges but also opportunities in their access to
finance. The recent financial crisis plays a very important role for
the future of corporate financing in Europe. On the one hand, banks
across the continent have been hit by the crisis and forced to
deleverage their balance sheets, thus imposing challenges for the
availability of credit to their corporate clients. On the other hand,
regulators and policy-makers have reacted to the financial crisis by
increasing capital and liquidity requirements in banking regulation,
triggering a discussion on whether and how the increased requirements
affect corporate access to bank lending.
Furthermore, the European Union has initiated the Capital Markets
Union in an attempt to strengthen market-based financing and thus to
reduce the dependence on bank financing in Europe. While the concrete
actions are still to be determined, important issues are the exact
design of European debt and equity capital markets, the challenge of
providing sufficient access to financing to small and medium-sized
enterprises (SMEs), and startup financing for young innovative
companies.
Finally, recent advances in digitalization and access to data have
facilitated the creation of new financing means such as peer-to-peer
lending and crowdfunding. These forms of financing may seem to be at
odds with existing theoretical considerations on the need for
financial intermediation in overcoming information asymmetry, but they
already represent significant (and growing) markets. Furthermore, they
may raise new question regarding the need for investor protection and
its exact design, issues currently being analyzed by academics and
regulators alike.
All the points above raise the question on how the future of corporate
financing in Europe will shape. This Call for Papers seeks
contributions that shed more light on any aspect of this important
question. Both theoretical and empirical contributions are welcome.
PAPER SUBMISSION PROCEDURE: Submission deadline: November 30, 2016.
Please submit papers through
https://www.editorialmanager.com/sbre/default.aspxindicating the Call
for Papers for the Special Issue.
ABOUT THE JOURNAL: Schmalenbach Business Review (SBR) publishes
original and innovative research that is of wide interest to business
research and practice. Its scope includes all major areas, such as
accounting and taxes, finance, marketing, organizations, management,
and digital business, but is also open to further subjects that
promote a better understanding business practice. SBR welcomes
articles that use rigorous theoretical and empirical research
methodologies to establish their results. All papers are subject to
double-blind peer review.
SBR started in 2000 as the international edition of the oldest and
most respected German-language business journal Schmalenbachs
Zeitschrift fur betriebswirtschaftliche Forschung (ZfbF). In keeping
with tradition, it champions the stance that taking a broader
perspective and monitoring advances in all business areas are
necessary to successfully meeting the challenges of business practice.
SBR and ZfbF are the official journals of the
Schmalenbach-Gesellschaft fur Betriebswirtschaft e. V. More details
are available at http://www.springer.com/journal/41464
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