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Persistent link: https://www.econbiz.de/10010190996
global games methodologies. Contingent convertible bonds are meant to act as a bail-in mechanism for banks, where CoCo debt …
Persistent link: https://www.econbiz.de/10012161027
Cryptocurrencies are often thought to operate out of the reach of national regulation, but in fact their valuations, transaction volumes and user bases react substantially to news about regulatory actions. The impact depends on the specific regulatory category to which the news relates: events...
Persistent link: https://www.econbiz.de/10012205633
’ possibilities of engaging in tax planning via debt shifting. This paper analyzes the effects of thin capitalization rules in the …
Persistent link: https://www.econbiz.de/10010506334
During the past decade, equity crowdfunding (ECF) has emerged as an alternative funding channel for startup firms. In Germany, the Small Investor Protection Act became binding in July 2015, with the legislative goal to protect investors engaging in this new asset class. Since then, investors...
Persistent link: https://www.econbiz.de/10012226836
affiliate's debt to assets ratio by 0.8%, which shows that rules targeting internal leverage have an indirect effect on the …This paper examines the impact of thin capitalization rules that limit the tax deductibility of interest on the capital … countries for the period 1982-2004. Using confidential data on the internal and total leverage of foreign affiliates of US …
Persistent link: https://www.econbiz.de/10010256736
currency debt maturity structure around a large depreciation in Colombia, we show that debt revaluation compresses imports due …
Persistent link: https://www.econbiz.de/10014304470
100% leverage tax on assets such as letters of credit would reduce their natural attractiveness relative to higher … created leverage ratio for trade. This paper offers a relatively simple model approach showing the conditions under which the …-risk ones, which stand in the balance sheet of banks. The decision by the Basel Committee in early 2014 weakening the leverage …
Persistent link: https://www.econbiz.de/10010404596
Persistent link: https://www.econbiz.de/10009722624
This survey reviews the literature on the political economy of financial structure, broadly defined to include the size of capital markets and banking systems as well as the distribution of access to external finance across firms.The theoretical literature on the institutional basis for...
Persistent link: https://www.econbiz.de/10011374399