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Credit Constraints, Firm Investment and Growth : Evidence from Survey Data

Garcia-Posada, Miguel - 2018

We assess the impact of credit constraints on investment, inventories and other working capital and firm growth with a …, as firms with poor investment and growth opportunities may have a higher probability of being credit constrained. We … implement several strategies to overcome this obstacle: proxies for investment opportunities, lagged regressors, random effects …

Persistent link: https://www.econbiz.de/10012928556

The Employment Consequences of SMEs’ Credit Constraints in the Wake of the Great Recession

Cornille, David - 2017

This article takes advantage of access to confidential matched bank-firm data relative to the Belgian economy to investigate how employment decisions of small- and medium-sized enterprises (SMEs) have been affected by credit constraints in the wake of the Great Recession. Variability in banks'...

Persistent link: https://www.econbiz.de/10012940882

Financing Constraints, Employment, and Labor Compensation : Evidence from the Subprime Mortgage Crisis

Popov, Alexander A. - 2015

This paper identifies the effect of financing constraints on firms' labor demand. We exploit exogenous funding shocks to German savings banks during the US mortgage crisis that are unrelated to local conditions. We find that firms with credit relationships with affected banks experienced a...

Persistent link: https://www.econbiz.de/10013019626

Debt Overhang, Rollover Risk, and Corporate Investment : Evidence from the European Crisis

Kalemli-Ozcan, Sebnem - 2019

their investment more after the crisis. This negative effect is stronger for firms linked to weak banks with exposures to … corporate investment …

Persistent link: https://www.econbiz.de/10012892581

Corporate Investment and Bank-Dependent Borrowers During the Recent Financial Crisis

Buca, Andra - 2015

We use the recent financial crisis period to analyse the effect of bank credit tightening on real firm investment. We …, investment falls substantially more in bank-dependent industries …

Persistent link: https://www.econbiz.de/10013009661

Investing in Crises

Baron, Matthew; Laeven, Luc; Pénasse, Julien; Usenko, … - 2021

We investigate asset returns around banking crises in 44 advanced and emerging economies from 1960 to 2018. In contrast to the view that buying assets during banking crises is a profitable long-run strategy, we find returns of equity and other asset classes generally underperform after banking...

Persistent link: https://www.econbiz.de/10013227328

Do International Portfolio Investors Follow Firms' Foreign Investment Decisions?

De Santis, Roberto A.; Ehling, Paul - 2021

We analyze the interlinkages between foreign direct investment (FDI) and foreign portfolio investment (FPI) between … stock of FPI. Most importantly, we find that information about foreign fundamentals is revealed via direct investment. In … investors follow firms' expected foreign investment decisions …

Persistent link: https://www.econbiz.de/10013316839

Subprime Consumer Credit Demand : Evidence From a Lender's Pricing Experiment

Alan, Sule - 2011

We test the interest rate sensitivity of subprime credit card borrowers using a unique panel data set from a UK credit card company. What is novel about our contribution is that we were given details of a randomized interest rate experiment conducted by the lender between October 2006 and...

Persistent link: https://www.econbiz.de/10013130142

Macroeconomic Propagation Under Different Regulatory Regimes : Evidence From an Estimated DSGE Model For the Euro Area

Darracq Paries, Matthieu - 2010

The financial crisis clearly illuminated the potential amplifying role of financial factors on macroeconomic developments. Indeed, the heavy impairments of banks' balance sheets brought to the fore the banking sector's ability to provide a smooth flow of credit to the real economy. However, most...

Persistent link: https://www.econbiz.de/10013137813

Liquidity Constraints, Risk Premia, and the Macroeconomic Effects of Liquidity Shocks

Jaccard, Ivan - 2013

We study the transmission of liquidity shocks in a dynamic general equilibrium model where firms and households are subject to liquidity risk. The provision of liquidity services is undertaken by financial intermediaries that allocate the stock of liquid asset between the different sectors of...

Persistent link: https://www.econbiz.de/10013086095

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