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The impact of the diffusion of a financial innovation on company performance: an analysis of SWIFT adoption

Scott, Susan V.; Zachariadis, Markos - London School of Economics (LSE) - 2010

1,689 SWIFT adopters) between 1998 and2005. We find that adoption appears to have large effects on profitability, but it … between new technologies and firm organization. The profitability effectoperates by both raising sales and decreasing …

Persistent link: https://www.econbiz.de/10010744922

Minimum wages and firm profitability

Draca, Mirko; Machin, Stephen; Van Reenen, John - London School of Economics (LSE) - 2006

other aspects of firm behaviour. In this paper we consider the impact of minimum wages on firm profitability by exploiting … firm profitability was significantly reduced (and wages significantly raised) by the minimum wage introduction. This … residential care homes, and a second on firms across all sectors). Interestingly, we find no evidence that the profitability …

Persistent link: https://www.econbiz.de/10010746021

A general framework for analysing endogenous trade divergences

Walsh, Patrick - London School of Economics (LSE) - 1991

determined by the maximum potential profitability of the home industry. It is argued that interpretations based on ?profit …

Persistent link: https://www.econbiz.de/10010884498

The interrelationship between HR, strategy and profitability in service SMEs: empirical evidence from the UK tourism hospitality and leisure sector

Georgiadis, Andreas; Pitelis, Christos N. - London School of Economics (LSE) - 2010

We investigate the strategies, HR attributes and their synergies that are associated with superior performance in service SMEs using data from the UK Tourism Hospitality and Leisure (THL) sector. A major advantage of our analysis is that our sample includes information also on very small firms...

Persistent link: https://www.econbiz.de/10010884576

Borrow cheap, buy high?: the determinants of leverage and pricing in buyouts

Axelson, Ulf; Jenkinson, Tim; Strömberg, Per; … - London School of Economics (LSE) - 2012

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

Capital structure and investment dynamics with fire sales

Gale, Douglas; Gottardi, Piero - London School of Economics (LSE) - 2013

We study a general equilibrium model in which firms choose their capital structure optimally, trading off the tax advantages of debt against the risk of costly default. The costs of default are endogenous: bankrupt firms are forced to liquidate their assets, resulting in a fire sale if there is...

Persistent link: https://www.econbiz.de/10011163502

Capital structure, investment, and fire sales

Gale, Douglas; Gottardi, Piero - London School of Economics (LSE) - 2014

We study a dynamic general equilibrium model in which firms choose their investment level and their capital structure, trading off the tax advantages of debt against the risk of costly default. The costs of bankruptcy are endogenously determined, as bankrupt firms are forced to liquidate their...

Persistent link: https://www.econbiz.de/10011170093

Taxation and Capital Structure: evidence from a transition economy

Klapper, Leora; Tzioumis, Konstantinos - London School of Economics (LSE) - 2008

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