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Market timing of long-term debt issuance

Witmer, Jonathan - 2009

The literature on market timing of long-term debt issuance yields mixed evidence that managers can successfully time … their debt-maturity issuance. The early results that are indicative of debt-maturity timing are not robust to accounting for … structural breaks or to other measures of debt maturity from firm-level data that account for call and put provisions in debt …

Persistent link: https://www.econbiz.de/10003933249

Cryptocurrency market reactions to regulatory news

Auer, Raphael A.; Claessens, Stijn - 2020

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

Why countries differ in thin capitalization rules : the role of financial development

Mardan, Mohammed - 2015

’ 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

Lessons from international central counterparties : benchmarking and analysis

Lazarow, Alexandre - 2011

Since the financial crisis, attention has focused on central counterparties (CCPs) as a solution to systemic risk for a variety of financial markets, ranging from repurchase agreements and options to swaps. However, internationally accepted standards and the academic literature have left...

Persistent link: https://www.econbiz.de/10009130555

A framework in search of an optimal margining policy for official institutions : the Canadian experience

Nakashima, Tomo; Cosma, Mihai; Plong, Boran - 2016

One of the main outcomes of the global financial crisis has been a series of new regulations imposed on the financial system and specifically on banks. As a result of the changing regulations, bank dealers introduced various "credit" and "liquidity" charges for uncollateralized over-the-counter...

Persistent link: https://www.econbiz.de/10011439879

Tax policy and entrepreneurship in the presence of asymmetric information in capital markets

Fuest, Clemens; Huber, Bernd; Tillessen, Philipp - 2003

This paper considers the implications of asymmetric information in capital markets for entrepreneurial entry and tax … tax policy should discourage rather than subsidize entrepreneurial entry. We also nalyse the welfare effects of project …

Persistent link: https://www.econbiz.de/10011506206

Capital market institutions and venture capital : do they affect unemployment and labour demand?

Fehn, Rainer; Fuchs, Thomas - 2003

This paper analyses the influence of the capital market on the labour market. Especially the impact of start-up financing on the structure of unemployment is of interest. We use a cross-country panel data analysis to examine how venture capital investment influences disaggre-gate unemployment....

Persistent link: https://www.econbiz.de/10011506487

Financial distress and hedging : evidence from Canadian oil firms

Mo, Kun; Suvankulov, Farrukh; Griffiths, Sophie - 2019

firms with higher short-term and long-term debt tend to hedge more. Furthermore, an increase in the Altman bankruptcy score …

Persistent link: https://www.econbiz.de/10011999674

Institutions and structural unemployment : do capital-market imperfections matter?

Belke, Ansgar; Fehn, Rainer - 2001

This paper analyzes whether differences in institutional structures on capital markets contribute to explaining why some OECD-countries, in particular the Anglo-Saxon countries, have been much more successful over the last two decades in producing employment growth and in reducing unemployment...

Persistent link: https://www.econbiz.de/10011398923

Financial constraints and the cash-holding behaviour of Canadian firms

McVanel, Darcey (contributor); Perevalov, Nikita (contributor) - 2008

The proportion of assets held by the average Canadian firm in the form of cash has increased steadily since the early 1990s, and is now roughly twice as large as in 1990. The literature has established that the cash-holding behaviour of firms is highly correlated with financial constraints and...

Persistent link: https://www.econbiz.de/10003775805