Similar Search Results

An analysis of the effects of the severance payment reform on credit to Italian SMEs

Calcagno, Riccardo; Kräussl, Roman; Monticone, Chiara - 2008

We study the effects of the reform of the system of severance payments (TFR) of Italian employees on the cost and the access to credit for small and medium-size enterprises (SMEs). The most direct consequence of the reform is to reduce in the long run the amount of liquid assets available to...

Persistent link: https://www.econbiz.de/10011377271

Backtesting value-at-risk using forecasts for multiple horizons, a comment on the forecast rationality tests of A. J. Patton A. Timmermann

Hoogerheide, Lennart F.; Ravazzolo, Francesco; Dijk, … - 2011

Persistent link: https://www.econbiz.de/10009720750

A real options perspective on R&D portfolio diversification

Bekkum, Sjoerd van; Pennings, Enrico; Smit, Han T. J. - 2008

This paper shows that the presence of conditional staging in R&D (Research & Development) has a critical impact on portfolio risk, and changes diversification arguments when a portfolio is constructed. When R&D projects exhibit option-like characteristics, correlation between projects plays a...

Persistent link: https://www.econbiz.de/10011373815

The political economy of dominant investors

Perotti, Enrico C.; Thadden, Ernst-Ludwig von - 2005

We allow the preference of a political majority to determine boththe corporate governance structure and the division of profits betweenhuman and financial capital. In a democratic society where financialwealth is concentrated, a political majority may prefer to restraingovernance by dispersed...

Persistent link: https://www.econbiz.de/10011337975

A real option perspective on valuing gas fields

Zhao, Lin; Wijnbergen, Sweder van - 2013

Persistent link: https://www.econbiz.de/10010191285

Strategic versus financial investors : the role of strategic objectives in financial contracting

Arping, Stefan; Falconieri, Sonia - 2009

Strategic investors, such as corporate venture capitalists, engage in the financing of start-up firms to complement … penalize poorly performing entrepreneurs by terminating their projects. Based on this tradeoff we develop a theory of financing …

Persistent link: https://www.econbiz.de/10011378146

Strategic versus financial investors

Arping, Stefan; Falconieri, Sonia - 2009

Persistent link: https://www.econbiz.de/10003850897

Ordering the preference hierarchies for internal finance, bank loans, bond and share issues

Haan, Leo de; Hinloopen, Jeroen - 2002

We estimate the incremental financing decision for a sample of some 150Dutch companies for the years 1984 through 1997 … thepecking-order theory as to the determinants of financing choices. Next, weuse ordered probit models to determine which … financing hierarchy fits thedata best. The results suggest that Dutch firms have a most-preferredfinancing hierarchy: (i …

Persistent link: https://www.econbiz.de/10011327550

Corporate governance and leverage : evidence from a natural experiment

Arping, Stefan; Sautner, Zacharias - 2009

impact of changes in corporate governance on financing policy. We find that, relative to a control sample of comparable firms …

Persistent link: https://www.econbiz.de/10011380020

Dividend-protected convertible bonds and the disappearance of call delay

Grundy, Bruce D.; Verwijmeren, Patrick - 2012

Persistent link: https://www.econbiz.de/10009722624

1
2
3
4
5
6
7
8
9
10
Next
Last