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Effects of foreign presence in a transition economy : regional and industry-wide investments and firm-level exports in Ukrainian manufacturing

Lutz, Stefan Heinz Hermann (contributor); … - 2006

investment might positively affect domestic firms' output and exports. Our estimation results support these hypotheses and …

Persistent link: https://www.econbiz.de/10003338200

The effects of industry-level uncertainty on cash holdings : the case of Germany

Baum, Christopher F. (contributor); … - 2006

This paper investigates the link between the optimal level of non-financial firms' liquid assets and industry-level uncertainty. We develop a structural model of a firm's value maximization problem that predicts that as industry-level uncertainty increases the firm will increase its optimal...

Persistent link: https://www.econbiz.de/10003386654

Uncertainty determinants of corporate liquidity

Baum, Christopher F.; Caglayan, Mustafa; Stephan, Andreas; … - 2006

This paper investigates the link between the optimal level of non-financial firms' liquid assets and uncertainty. We develop a partial equilibrium model of precautionary demand for liquid assets showing that firms alter their liquidity ratio in response to changes in either macroeconomic or...

Persistent link: https://www.econbiz.de/10003394915

Macroeconomic uncertainty and firm leverage

Baum, Christopher F. (contributor); … - 2004 - [Elektronische Ressource]

This paper investigates the link between the optimal level of non-financial firms' leverage and macroeconomic uncertainty. We develop a structural model of a firm's value maximization problem that predicts that as macroeconomic uncertainty increases the firm will decrease its optimal level of...

Persistent link: https://www.econbiz.de/10002243165

The impact of macroeconomic uncertainty on cash holdings for nonfinancial firms

Baum, Christopher F.; Caglayan, Mustafa; Ozkan, Neslihan; … - 2004 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001972729

Macroeconomic uncertainty and bank lending : the case of Ukraine

Talavera, Oleksandr (contributor); … - 2006

Our study investigates the link between bank lending behavior and macroeconomic uncertainty. We develop a dynamic model … of a bank's value maximization that results in a negative relationship between loan to capital ratio and macroeconomic … in uncertainty is not uniform and depends on bank-specific characteristics. …

Persistent link: https://www.econbiz.de/10003394919