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Cole, Rebel; Moshirian, Fari; Wu, Qionbing - Volkswirtschaftliche Fakultät, … - 2007

Previous research has established (i) that a country’s financial sector influence future economic growth and (ii) that stock market index returns affect future economic growth. We extend and tie together these two strands of the growth literature by analyzing the relationship between banking...

Persistent link: https://www.econbiz.de/10011259225

Banking consolidation and the availability of credit to small businesses

Cole, Rebel; Walraven, Nick - Volkswirtschaftliche Fakultät, … - 1998

In this study, we use firm-level data from the 1993 National Survey of Small Business Finances to test the hypothesis that banking consolidation has reduced the availability of credit to small businesses. We find that banks in markets where mergers have occurred are more likely than other banks...

Persistent link: https://www.econbiz.de/10005836119

Bank stock returns and economic growth

Cole, Rebel; Moshirian, Fari; Wu, Qionbing - Volkswirtschaftliche Fakultät, … - 2007

Persistent link: https://www.econbiz.de/10005836488

Availability of credit to small and minority-owned businesses: Evidence from the 1993 National Survey of Small Business Finances

Cole, Rebel - Volkswirtschaftliche Fakultät, … - 1999

This article analyzes factors influencing the decisions of prospective lenders to extend credit to small and minority-owned businesses. Using data from a government survey of small businesses, the analysis reveals that prospective lenders (primarily commercial banks)are four times more likely to...

Persistent link: https://www.econbiz.de/10005616652

What do we know about the capital structure of privately held firms? Evidence from the Surveys of Small Business Finance

Cole, Rebel - Volkswirtschaftliche Fakultät, … - 2008

conducted to test the two major competing theories of capital structure (Trade-Off Theory and Pecking-Order Theory), yet none of … and total liabilities to total assets is negatively related to firm size, age, profitability, liquidity and credit quality … that femaleowned firms use less leverage. In general, these results are broadly supportive of the Pecking- Order Theory and …

Persistent link: https://www.econbiz.de/10005621278

Legal origin, creditor protection and bank lending: Evidence from emerging markets

Cole, Rebel; Turk, Rima - Volkswirtschaftliche Fakultät, … - 2007

Numerous papers in the “law and finance” literature have established that countries with better functioning legal institutions enjoy better developed capital markets, and that legal origin is a fundamental determinant of legal institutions (La Porta et al. 1997, 1998, 2006; Djankov et al. 2007)....

Persistent link: https://www.econbiz.de/10005621425

Bank credit, trade credit or no credit: Evidence from the Surveys of Small Business Finances

Cole, Rebel - Volkswirtschaftliche Fakultät, … - 2010

retail-trade industries. In general, these findings are consistent with the pecking-order theory of firm capital structure … liquidity and negatively related to credit quality and is lower at firms that primarily provide services. In general, these … results are consistent with the financing-advantage theory of trade credit. Firms that use bank credit are larger, less …

Persistent link: https://www.econbiz.de/10008615030

Legal origin, creditor protection and bank lending around the world

Cole, Rebel; Turk, Rima - Volkswirtschaftliche Fakultät, … - 2007

, these results provide strong support for the theory of legal origin but provide only mixed support for the “power” theories …

Persistent link: https://www.econbiz.de/10008871318