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Threat of entry and corporate debt maturity : evidence from airlines

Parise, Gianpaolo - 2014 - This version: September 29th, 2014

I explore the effect of the threat posed by low-cost competitors on debt structure in the airline industry. I use the route network expansion of low-cost airlines to identify routes where the probability of future entry increase dramatically. I find that when a large portion of their market is...

Persistent link: https://www.econbiz.de/10010412667

Family values : ownership structure, performance and capital structure of Canadian firms

King, Michael R. (contributor); Santor, Eric (contributor) - 2007

This study examines how family ownership affects the performance and capital structure of 613 Canadian firms using a panel dataset from 1998 to 2005. In particular, we distinguish the effect of family ownership from the use of control-enhancing mechanisms. We find that freestanding family-owned...

Persistent link: https://www.econbiz.de/10003560529

Trade liberalization, profitability, and financial leverage

Baggs, Jen; Brander, James A. - 2005

Persistent link: https://www.econbiz.de/10002959899

Intra-Eurosystem Debts

Whittaker, John - 2011

Germany is a reluctant supporter of the EU funds which are being used in the ‘bailout' of Ireland, and it insists on strict ‘austerity' conditions, concerned about risk and moral hazard.However, through its central bank, Germany is lending €325bn (December 2010) to other central banks in...

Persistent link: https://www.econbiz.de/10013125422

A Debt of Dishonor

Oosterlinck, Kim; Panizza, Ugo; Weidemaier, Mark; … - 2022

In 1825, France conditioned its grant of recognition to the new nation of Haiti on the payment of 150 million francs plus trade benefits. The payments were, at least in part, compensation for the losses that French plantation owners suffered, a key part of which was the loss of enslaved...

Persistent link: https://www.econbiz.de/10013290746

Debt

Settlements, Bank for International - 2015

The 13th BIS Annual Conference took place in Lucerne, Switzerland on 27 June 2014. The event brought together a distinguished group of central bank governors, leading academics and former public officials to exchange views. The focus this year was on debt. The papers presented at the conference...

Persistent link: https://www.econbiz.de/10013029209

Can formula apportionment really prevent multinational enterprises from profit shifting? : the role of asset valuation, intragroup debt, and leases

Kiesewetter, Dirk; Steigenberger, Tobias; Stier, Matthias - 2014

of tax accounting based on neoclassical investment theory and effective tax rates to determine whether, and to what …

Persistent link: https://www.econbiz.de/10010410351

Disagreement and flexibility : a theory of optimal security issuance and capital structure

Boot, Arnoud W. A.; Thakor, Anjan V. - 2002

ofthis theory of capital structure evolution is that optimal capital structure is essentiallydynamic, and depends on the firm …’s stock price, implying that firms issue equity when stockprices are high and debt when stock prices are low. The theory … testablepredictions. Moreover, the theory can rationalize the use of debt in the absence of taxes,agency costs or signaling considerations. …

Persistent link: https://www.econbiz.de/10011332820

Leaning against the wind : debt financing in the face of adversity

Brennan, Michael J.; Kraft, Holger - 2015

We offer evidence of a new stylized feature of corporate financing decisions: the tendency of managers to rely more on debt financing when earnings prospects are poor. We term this 'leaning against the wind' and consider three possible explanations: market timing, precautionary financing, and...

Persistent link: https://www.econbiz.de/10011434790

Operating Leverage, Profitability and Capital Structure

Chen, Zhiyao - 2017

negative relation between profitability and financial leverage that is thought to be inconsistent with the trade-off theory …

Persistent link: https://www.econbiz.de/10012974654

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