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We examine the effect of taxation on financing policy using the corporate tax reform in 2001 in Croatia as a natural experiment. Since the extant literature on tax effects on capital structure studies listed firms in developed countries, it is worth investigating whether the same results apply...
Persistent link: https://www.econbiz.de/10005797595
, trading off the tax advantages of debt against the risk of costly default. The costs of bankruptcy are endogenously determined …
Persistent link: https://www.econbiz.de/10011170093
Private equity funds pay particular attention to capital structure when executing leveraged buyouts, creating an interesting setting for examining capital structure theories. Using a large, detailed, international sample of buyouts from 1980-2008, we find that buyout leverage is unrelated to the...
Persistent link: https://www.econbiz.de/10011071252
advantages of debt against the risk of costly default. The costs of default are endogenous: bankrupt firms are forced to …
Persistent link: https://www.econbiz.de/10011163502
This article examines the 2007 banking crisis from an interdisciplinary and, in particular, social constructivist perspective to identify its structural and systemic causes. After presenting and explaining a wide meta-theoretical framework that can accommodate different understandings of...
Persistent link: https://www.econbiz.de/10010884691
‘Safe harbour’ is shorthand for a bundle of privileges in insolvency which are typically afforded to financial institutions. They are remotely comparable to security interests as they provide a financial institution with a considerably better position as compared to other creditors should...
Persistent link: https://www.econbiz.de/10011264787
. Risk management is valuable as it reduces the costs of raising external financing, increases debt capacity, lessens … leads to inefficient excessive continuation if used without coverage limits. When insurance against an operational risk is …
Persistent link: https://www.econbiz.de/10010745872
The influence of external organizations and pressures on business risk management practices has hitherto been examined … the influence of the law in social and economic life. We know that the sources of regulation and risk management are … regulatory actors have of the different external pressures on business risk management through an empirical study of the …
Persistent link: https://www.econbiz.de/10011183326
socio-economic factors likely to enhance or reduce zoonotic risk, and identifies why improved understanding requires an … recommend that interdisciplinary work on zoonotic risk should be able to account for the complexity of risk environments, rather … than simple linear causal relations between risk drivers and disease emergence and/or spread. Further, we recommend that …
Persistent link: https://www.econbiz.de/10011126682
Aimed at energy organizations adapting to the competitive demands associated with liberalization, transaction and risk … management software “A-Trade” was part of the shift from a traditional engineer-led culture of risk cognition to market …-oriented financial risk management. The story of A-Trade illustrates the progress of risk industries, the development of encounters …
Persistent link: https://www.econbiz.de/10011071516