Narrow search
Showing 1 - 10 of 234
Cover Image
Survival of new firms in the Brazilian franchising segment : an empirical study
Façanha, Luis Otávio; Resende, Marcelo; Cardoso, Vicente - 2011
The paper investigates survival patterns of Brazilian franchising firms during the 1994-1999 period. First, at a more descriptive level one considered the (percentage) survival of newly created franchisors in the following years. The evidence indicated a drastic decay in survival after only a...
Persistent link: https://www.econbiz.de/10009011145
Cover Image
Are bigger banks better? : firm-level evidence from Germany
Huber, Kilian - 2020
The effects of large banks on the real economy are theoretically ambiguous and politically controversial. I identify quasi-exogenous increases in bank size in postwar Germany. I show that firms did not grow faster after their relationship banks became bigger. In fact, opaque borrowers grew more...
Persistent link: https://www.econbiz.de/10012383736
Cover Image
The adoption of non-rival inputs and firm scope
Jiang, Xian; Rubinton, Hannah - 2024
Custom software is distinct from other types of capital in that it is non-rival—once a firm makes an investment in custom software, it can be used simultaneously across its many establishments. Using confidential US Census data, we document that while firms with more establishments are more...
Persistent link: https://www.econbiz.de/10014505806
Cover Image
The commitment role of equity financing
Fahn, Matthias; Merlo, Valeria; Wamser, Georg - 2014
Existing theories of a firm’s optimal capital structure seem to fail in explaining why many healthy and profitable firms rely heavily on equity financing, even though benefits associated with debt (like tax shields) appear to be high and the bankruptcy risk low. This holds in particular for...
Persistent link: https://www.econbiz.de/10010366170
Cover Image
Relational contracts, the cost of enforcing formal contracts, and capital structure choice : theory and evidence
Fahn, Matthias; Merlo, Valeria; Wamser, Georg - 2017
, on average, higher costs of enforcing formal contracts should be associated with firms having less leverage. We test this …
Persistent link: https://www.econbiz.de/10011674383
Cover Image
Connections and performance in bankers' turnover : better wed over the mixen than over the moor
Battistin, Erich (contributor); Graziano, Clara (contributor) - 2008
In this paper we study top executive turnover in Italian Banks over the period 1993-2001. We relate the probability of survival of top executives (Presidents, CEOs and General Managers) to bank performance and the manager's local connections, controlling for (observable and unobservable) bank...
Persistent link: https://www.econbiz.de/10003772161
Cover Image
Microeconometric evidence of financing frictions and innovative activity
Tiwari, Amaresh K.; Mohnen, Pierre A.; Palm, Franz C.; … - 2014
Using Dutch data we empirically investigate how financing and innovation vary across firm characteristics. We find that when firms face financial constraints, debt financing and innovation choices are not independent of firm characteristics, and R&D slows down. In the absence of financial...
Persistent link: https://www.econbiz.de/10010249680
Cover Image
On the capital structure of foreign subsidiaries : evidence from a panel data quantile regression model
Miniaci, Raffaele; Panteghini, Paolo - 2021
distribution of the leverage of European foreign owned subsidiaries in the presence of unobserved company characteristics, possibly …) distribution of leverage. In particular, when the leverage ratio is low enough, an increase in a subsidiary's tax rate stimulates … its borrowing. When however, the leverage ratio is high enough, taxes do not matter. We also find that the parent company …
Persistent link: https://www.econbiz.de/10012514927
Cover Image
Complementing business training with access to finance : evidence from SMEs in Kenya
Ashraf, Anik; Lyons, Elizabeth - 2023
medium enterprises (SMEs) in Kenya. All participants in a business training program are offered training. One-third of …
Persistent link: https://www.econbiz.de/10014332125
Cover Image
Neutral taxation of shareholder income? : corporate responses to an announced dividend tax
Alstadsæter, Annette; Fjaerli, Erik - 2009
The introduction of the 2006 Norwegian shareholder income tax was announced in advance, and it increased top marginal tax rates on individual dividend income from zero to 28 percent. We document strong timing effects on dividend payout on a large panel of non-listed corporations, with a surge of...
Persistent link: https://www.econbiz.de/10003806745