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Credit Supply Shocks and Firm Dynamics : Evidence from Brazil
Bazzi, Samuel; Muendler, Marc-Andreas; Oliveira, Raquel F. - National Bureau of Economic Research - 2023
We explore how financial constraints distort the entry decisions among otherwise productive entrepreneurs and limit growth of promising young firms. A model of liquidity-constrained entrepreneurs suggests that the easing of credit constraints can induce more entry of firms with greater long-run...
Persistent link: https://www.econbiz.de/10014372477
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Acquisitions, Management, and Efficiency in Rwanda's Coffee Industry
Macchiavello, Rocco; Morjaria, Ameet - National Bureau of Economic Research - 2022
Well-functioning markets allocate assets to owners that improve firms' management and performance. We study the effects of ownership changes on coffee mills in Rwanda - an industry in which managing relationships with farmers and seasonal workers is important and that has seen many ownership...
Persistent link: https://www.econbiz.de/10013334447
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Corporate capital structures in the United States
Friedman, Benjamin M. (ed.) - 1985
Persistent link: https://www.econbiz.de/10013480853
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Modeling Managers As EPS Maximizers
Ben-David, Itzhak; Chinco, Alexander M. - National Bureau of Economic Research - 2023
accumulation, and capital budgeting …
Persistent link: https://www.econbiz.de/10014250143
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Q-Monetary Transmission
Jeenas, Priit; Lagos, Ricardo - National Bureau of Economic Research - 2022
We study the effects of monetary-policy-induced changes in Tobin's q on corporate investment and capital structure. We …
Persistent link: https://www.econbiz.de/10013210051
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The Secular Decline in Private Firm Leverage
Dobridge, Christine L.; Gilje, Erik P.; Whitten, Andrew - National Bureau of Economic Research - 2022
Using firm-level administrative tax data on the 43% of business liabilities in the United States tied to privately held firms, we document dramatic reductions in leverage since the Great Recession. Leverage for the average private firm fell fifteen percent between 2004 and 2018. In contrast,...
Persistent link: https://www.econbiz.de/10013210062
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Taxes Depress Corporate Borrowing : Evidence from Private Firms
Ivanov, Ivan T.; Pettit, Luke; Whited, Toni Marion - National Bureau of Economic Research - 2024
equilibrium model shows that tax cuts make capital more productive and spur borrowing. Tax cuts also produce more distant default …
Persistent link: https://www.econbiz.de/10014544677
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Monetary Transmission Through Bank Securities Portfolios
Greenwald, Daniel; Krainer, John; Paul, Pascal - National Bureau of Economic Research - 2024
-for-sale securities, unhedged securities, and banks that must include unrealized gains and losses in their regulatory capital. A … more banks are required to adjust their regulatory capital for unrealized value changes of securities …
Persistent link: https://www.econbiz.de/10014544727
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After the Storm : How Emergency Liquidity Helps Small Businesses Following Natural Disasters
Collier, Benjamin L.; Howell, Sabrina T.; Rendell, Lea - National Bureau of Economic Research - 2024
crowding-in of private credit, appear to reflect resolving uncertainty about repair. We do not find capital reallocation away …
Persistent link: https://www.econbiz.de/10014528366
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Do Financial Frictions Explain Chinese Firms’ Saving and Misallocation?
Bai, Yan - 2018
' saving and capital misallocation. We first document the features of the data in terms of firm dynamics and debt financing … firms have lower leverage, face higher interest rates, and operate with a higher marginal product of capital. We then … aggregate firms' saving and investment and around 50 percent of the dispersion in the marginal product of capital within private …
Persistent link: https://www.econbiz.de/10012453278