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"Zervos documents the precise costs of debt and equity issuance, both domestically and internationally, for firms in Brazil, Chile, and Mexico. Costs include investment banking and legal fees, regulatory and exchange listing costs, rating agency fees, and expenditures for marketing and...
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empirical tests confirm the value of the data for credit risk evaluation and provide insights regarding its use in supervision …, including in calculations of credit risk for capital and provisioning requirements, or as a check on a bank's internal ratings …
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"Previous research has documented weak, and sometimes conflicting, effects of legal quality on measures of firm debt. Using WorldScope data for 1,689 firms, as well as more detailed proprietary data for 315 firms across nine East Asian countries, the authors find that access to foreign financing...
Persistent link: https://www.econbiz.de/10010522669
"The authors study the effect of reorganization costs on the efficiency of bankruptcy laws. They develop a simple model that predicts that in a regime with high costs, the law fails to achieve the efficient outcome of liquidating unviable businesses and reorganizing viable ones. The authors test...
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The legal and institutional framework governing creditor rights and insolvency proceedings in Chile reasonably complies … risk management and resolution: Financial institutions over-rely on real estate as collateral. Pledges are not enough … enjoying such instruments use ordinary proceedings whose duration is even longer (3 to 5 years). Insolvency legislation is …
Persistent link: https://www.econbiz.de/10012559372