Narrow search
Showing 51 - 60 of 235
Cover Image
Time-varying capital requirements and disclosure rules : effects on capitalization and lending decisions
Imbierowicz, Björn; Kragh, Jonas; Rangvid, Jesper - 2018
, brought about via less asset risk. A decrease in the requirement implies more lending to firms but also less Tier 1 capital …
Persistent link: https://www.econbiz.de/10011865005
Cover Image
Size matters : "over"investments in a relational contracting setting
Englmaier, Florian; Fahn, Matthias - 2018
The corporate finance literature documents that managers tend to over-invest in their companies. A number of … between shareholders and managers. The present paper shows that over-investments are not necessarily the (negative …) consequence of agency problems between shareholders and managers, but instead might be a second-best optimal response to address …
Persistent link: https://www.econbiz.de/10011895831
Cover Image
Monetary policy, housing, and collateral constraints
Franz, Thorsten - 2019
House-purchasing decisions and the possibility of existing homeowners to tap into their housing equity depend decisively on prevailing loan-to-value (LTV) ratios in mortgage markets with borrowing constrained households. Utilizing a smooth transition local projection (STLP) approach, I show that...
Persistent link: https://www.econbiz.de/10011963152
Cover Image
Monetary policy, product market competition and growth
Aghion, Philippe; Farhi, Emmanuel; Kharroubi, Enisse - 2018
Persistent link: https://www.econbiz.de/10011947708
Cover Image
Bank leverage cycles and the external finance premium
Rannenberg, Ansgar - 2013
By combining the approaches of Gertler and Karadi (2011) and Bernanke et al. (1999), I develop a DSGE model with leverage constraints both in the banking and in the non-financial firm sector. I calibrate this "full model" to US data. In a world with only a monetary policy and a productivity...
Persistent link: https://www.econbiz.de/10010238505
Cover Image
Towards an explanation of cross-country asymmetries in monetary transmission
Georgiadis, Georgios - 2012
I quantify the importance of financial structure, labor market rigidities and industry mix for cross-country asymmetries in monetary transmission. To do so, I determine how closely the impulse responses to a monetary policy shock obtained from country-specific vectorautoregressive (VAR) models...
Persistent link: https://www.econbiz.de/10009509088
Cover Image
Differential taxation and firms' financial leverage : evidence from the introduction of a flat tax on interest income
Fossen, Frank M.; Simmler, Martin - 2012
Tax competition for the mobile factor capital has led to a trend in many countries to levy lower taxes on interest income, often introducing differential taxation between interest and business income. In this study, we analyze the effect of such differential taxation on the debt ratio of firms....
Persistent link: https://www.econbiz.de/10009510579
Cover Image
Tax incentives and capital structure choice : evidence from Germany
Hartmann-Wendels, Thomas; Stein, Ingrid; Stöter, Alwin - 2012
This paper provides new evidence that taxes affect capital structure choice, using a unique and comprehensive panel data set which covers 86,173 German non-financial firms over the years 1973–2008. Following the Graham methodology to simulate marginal tax rates, we find a statistically and...
Persistent link: https://www.econbiz.de/10009625689
Cover Image
R&D, capital investments, and financing under repeated moral hazard
Anderson, Ronald W.; Nyborg, Kjell G. - 2000
Persistent link: https://www.econbiz.de/10001492504