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reason. -- Liquidity ; Asymmetric Information ; Debt maturity …
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This paper tests for the sensitivity of R&D to financing constraints conditional on restrictions in external financing. Financing constraints of firms are identified by an exogenously calculated rating index. Restrictions in external financing are determined by (i) the specific time period...
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We investigate how intangible capital in form of intellectual property, such as patents, might mitigate financing constraints. While scholars have already argued that patents might have a signalling value reducing information asymmetries between borrowers and lenders, we quantify the value of...
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and returns from maturity transformation. Banks price interest risk according to their individual exposure separately in … loan and deposit rates, but reduce these charges when they expect returns from maturity transformation. Second, using a … for earnings from bank-individual maturity transformation strategies, we find all banks to charge additional fees for …
Persistent link: https://www.econbiz.de/10009572494
for the first time. For other banks, the maturity gap is endogenous to the decision to use swaps, but the reverse … as the maturity gap being largely determined by customer liquidity needs, whereas the decision to use swaps relies on …
Persistent link: https://www.econbiz.de/10010248947