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that well-functioning credit markets would reflect a bank channel for monetary policy at work, we test whether a change in … and the associated change in interest rate does not affect change in bank credit, change in total debt and the proportion … of bank credit in total debt for any of the firms. We discuss the policy implications of the findings. …
Persistent link: https://www.econbiz.de/10011493763
We document that trust in public institutions "and particularly trust in banks, business and government" has declined over recent years. U.S. time series evidence suggests that this partly reflects the pro-cyclical nature of trust in institutions. Cross-country comparisons reveal a clear legacy...
Persistent link: https://www.econbiz.de/10009233928
Persistent link: https://www.econbiz.de/10002035589
beyond which further increases in leverage could lower TFP growth. -- Excess leverage ; bank efficiency ; market …
Persistent link: https://www.econbiz.de/10003944314
We investigate the interdependence of debt financing and R&D activities of young firms. Using micro-level data of the KfW/ZEW Start-up Panel, our estimation results show that firm characteristics are more important than personal characteristics of the founders for explaining young firms'...
Persistent link: https://www.econbiz.de/10009523478
Using nationally representative Norwegian data we show family-owned workplaces are less likely to close than observationally similar non-family-owned workplaces. But this changed during the Crisis when the family businesses' closure hazard soared. This hike in 2009 was not related to performance...
Persistent link: https://www.econbiz.de/10011457366
This paper uses the BEEPS firm-level data to study the process of convergence of transition countries with developed market economies. The primary focus of the study is on competition and market structure, finance and the structure of lending to firms, and how firms respond to the economic...
Persistent link: https://www.econbiz.de/10003782478
This study examines the impact of 1997 Asian and 2008 Global financial crises on the capital structure of Korean listed companies. Using a data set covering 1,159 Korean listed non-financial firms from 10 industrial sectors over period 1985-2015, the pattern of firms' capital structure before...
Persistent link: https://www.econbiz.de/10011612999
The present paper examines the capital structure adjustment dynamics of listed non-financial corporations in seven East Asian countries during 1994-2002. Compared to firms in the least affected countries, average leverages were much higher among firms in the worst affected countries while the...
Persistent link: https://www.econbiz.de/10003693700
experiment conducted in a bank. In the treatment group managers obtained access to objective performance measures which raised …
Persistent link: https://www.econbiz.de/10011871952