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Fan, Joseph - 2011

Despite a vast accumulation of private capital, China is not embracing capitalism. Deceptively familiar capitalist features disguise the profoundly unfamiliar foundations of "market socialism with Chinese characteristics." The Chinese Communist Party (CCP), by controlling the career advancement...

Persistent link: https://www.econbiz.de/10012460970

Financing corporate capital formation

Friedman, Benjamin M. (ed.) - 1986

Persistent link: https://www.econbiz.de/10000707732

International Borrowing to Finance Investment

Engel, Charles - 1986

The motives of a small country for borrowing to purchase capital equipment on international markets are studied. The country produces tradable capital and a nontradable consumption good and borrows or lends capital to achieve higher levels of welfare. A shift in time-preference favoring future...

Persistent link: https://www.econbiz.de/10012477211

Monetary Policy, Corporate Finance and Investment

Cloyne, James - 2018

We provide new evidence on how monetary policy affects investment and firm finance in the United States and the United … borrowing declines only for younger non-dividend payers, as their external finance is mostly exposed to asset value fluctuations …. Conversely, cash flows change less markedly and more homogeneously across groups. Our findings highlight the role of firm finance …

Persistent link: https://www.econbiz.de/10012481014

The Consequences of Entrepreneurial Finance : A Regression Discontinuity Analysis

Kerr, William R. - 2010

This paper documents the role of angel funding for the growth, survival, and access to follow-on funding of high-growth start-up firms. We use a regression discontinuity approach to control for unobserved heterogeneity between firms that obtain funding and those that do not. This technique...

Persistent link: https://www.econbiz.de/10012462820

Firm Heterogeneity and the Long-run Effects of Dividend Tax Reform

Gourio, Francois - 2009

To study the long-run effect of dividend taxation on aggregate capital accumulation, we build a dynamic general equilibrium model in which there is a continuum of firms subject to idiosyncratic productivity shocks. We find that a dividend tax cut raises aggregate productivity by reducing the...

Persistent link: https://www.econbiz.de/10012463605

Disclosure and the Cost of Capital : Evidence from Firms' Responses to the Enron Shock

Leuz, Christian - 2009

This paper examines the link between disclosure and the cost of capital. We exploit an exogenous cost of capital shock created by the Enron scandal in Fall 2001 and analyze firms' disclosure responses to this shock. These tests are opposite to the typical research design that analyzes cost of...

Persistent link: https://www.econbiz.de/10012463751

Entrepreneurial Finance and Non-diversifiable Risk

Chen, Hui - 2009

entrepreneurial finance to demonstrate the important implications of nondiversifiable risks for entrepreneurs' interdependent …

Persistent link: https://www.econbiz.de/10012463800

Financial Frictions, Investment and Tobin's q

Lorenzoni, Guido - 2007

We develop a model of investment with financial constraints and use it to investigate the relation between investment and Tobin's q. A firm is financed partly by insiders, who control its assets, and partly by outside investors. When their wealth is scarce, insiders earn a rate of return higher...

Persistent link: https://www.econbiz.de/10012465562

Why are Buyouts Levered : The Financial Structure of Private Equity Funds

Axelson, Ulf - 2007

that is raised to finance a specific deal. Second, the fund investors' claim on fund cash flow is a combination of debt and …

Persistent link: https://www.econbiz.de/10012465831