Financing obstacles among euro area firms: Who suffers the most?

In this study we investigate the determinants of financing obstacles using survey data on a sample of around 5000 firms from the euro area countries. This completely new survey – started at the end of 2009 - gives us the opportunity to test whether firm characteristics such as size, age, economic branch, financial autonomy and ownership are valid predictors of financing obstacles also during the recent financial crisis. Our results show that only age and ownership are robust explanatory variables for firms’ perceived financing obstacles while mixed results are found for size and economic branches. JEL Classification: E22, G30, G10, O16, K40financial crisis, Financing Constraints, Small and Medium-Sized Enterprises, survey data

Surviving the surf: The tribomechanical properties of the periostracum of Mytilus sp

We investigated the friction and wear behavior as well as the mechanical properties of the periostracum of Mytilus sp. Tribological properties were determined with a reciprocal sliding microtribometer, while mechanical characterization was performed using a nanoindenter. Measurements were performed in dry and wet conditions. On the dry periostracum we found a low friction coefficient of 0.078 ± 0.007 on the young parts and a higher one of 0.63 ± 0.02 on the old parts of the shell. Under wet, saline, conditions we only observed one average coefficient of friction of 0.37 ± 0.01. Microscopic ex situ analysis indicated that dry periostracum wore rather rapidly by plowing and fatigue, while it exhibited a high wear resistance when immersed in salt water. The Young’s modulus and hardness of the periostracum were also investigated in both dry and wet conditions. Under dry conditions the Young’s modulus of the periostracum was 8 ± 3 GPa, while under wet conditions it was 0.21 ± 0.05 GPa. The hardness of dry periostracum samples was 353 ± 127 MPa, whereas the hardness of wet samples was 5 ± 2 MPa. It was found that, in the wet state, viscous behavior plays a significant role in the mechanical response of the periostracum. Our results strongly indicate that the periostracum can provide an important contribution to the overall wear resistance of Mytilus sp. shell

Vereine als Schulen des Vertrauens. Eine empirische Analyse zur Zivilgesellschaft in der Schweiz

In der Tradition von Alexis de Tocqueville wird zivilgesellschaftlichen Vereinigungen eine essentielle Bedeutung in der zwischenmenschlichen Vertrauensbildung zugeschrieben. Ziel des vorliegenden Beitrages ist es, den Zusammenhang zwischen Vereinsengagement und generalisiertem Vertrauen differenzierter zu betrachten und empirisch für die Schweiz zu untersuchen. Dabei werden sowohl das Engagement in verschiedenen Organisationstypen (brückenbildende vs. abgrenzende und isolierte vs. verbundene) als auch die vereinstypusunabhängige Integration miteinander verglichen. Empirische Analysen auf Basis aktueller Daten des Schweizer Freiwilligen-Monitors 2007 kommen dabei zu dem Schluss, dass entgegen weitverbreiteter Meinung die Vertrauensentwicklung in der Schweiz weniger vom Engagement in spezifischen Vereinen abhängt, sondern vielmehr dem Ausmass der persönlichen Integrationsbereitschaft geschuldet ist. Von entscheidender Bedeutung für die Vertrauensentwicklung ist also nicht die Qualität der hier untersuchten einzelnen Vereinigungen, sondern die Quantität des persönlichen Engagements

Civic engagement and corruption in 20 European democracies

This paper analyzes the relation between different forms of civic engagement and corruption. This first of all extends earlier analysis linking generalized trust to corruption by incorporating another element from the social capital complex (namely formal forms of civic engagement). Second, based on the idea that social networks' beneficial or harmful impact may depend on their characteristics, it investigates how the structure of social networks (i.e., inclusive vs. exclusive and isolated vs. connected) matters. Evaluating the engagement - corruption nexus for a cross-section of 20 European democracies in 2002/2003, we confirm that social networks are linked to corruption even when controlling for the effect of generalized trust, and that their relation to corruption is typespecific. These findings survive under various model specifications and robustness checks. (author's abstract