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Barrett, Philip; Johns, Christopher - 2022

This paper examines ways to summarize the maturity structure of public debts using a small number of parameters. We …) more accurately describes changes in debt maturity for these six countries and 2) gives a quite different interpretation of … historical debt maturity. Our work can be applied not just to analyze past debt movements, but – because parameter estimates are …

Persistent link: https://www.econbiz.de/10013305675

Leverage Shocks : Firm-Level Evidence on Debt Overhang and Investment

Cevik, Serhan; Miryugin, Fedor - 2021

like no other at a time of record-breaking debt levels, especially among nonfinancial firms across the world, could …

Persistent link: https://www.econbiz.de/10013250075

The COVID-19 Impact on Corporate Leverage and Financial Fragility

Haque, Sharjil; Varghese, Richard - 2022

leverage (Net Debt/Asset) decreased by 5.3 percentage points from the pre-shock mean of 19.6 percent, while debt maturity …

Persistent link: https://www.econbiz.de/10013299034

Curbing Corporate Debt Bias

De Mooij, Ruud A. - 2017

Tax provisions favoring corporate debt over equity finance ('debt bias') are widely recognized as a risk to financial stability. This paper explores whether and how thin-capitalization rules, which restrict interest deductibility beyond a certain amount, affect corporate debt ratios and mitigate...

Persistent link: https://www.econbiz.de/10012960580

Firm Leverage and Boom-Bust Cycles

Sever, Can - 2023

This paper explores the dynamic relationship between firm debt and real outcomes using data from 24 European economies over the period of 2000-2018. Based on macro data, it shows that a rise in credit to firms is associated with an increase in employment growth in the short-term, but employment...

Persistent link: https://www.econbiz.de/10014353733

Taxation, Bank Leverage, and Financial Crises

De Mooij, Ruud A. - 2013

That most corporate tax systems favor debt over equity finance is now widely recognized as, potentially, amplifying risks to financial stability. This paper makes a first attempt to explore, empirically, the link between this tax bias and the probability of financial crisis. It finds that...

Persistent link: https://www.econbiz.de/10013085611

Taxation and Leverage in International Banking

Gu, Weishi - 2013

-level dataset for 558 commercial bank subsidiaries of the 86 largest multinational banks in the world, we find that taxes matter …

Persistent link: https://www.econbiz.de/10013088733

Emerging Market Corporate Leverage and Global Financial Conditions

Alter, Adrian - 2017

Corporate debt in emerging markets has risen significantly in recent years amid accommodative global financial conditions. This paper studies the relationship of leverage growth in emerging market (EM) firms to U.S. monetary conditions, and more broadly, to global financial conditions. We find...

Persistent link: https://www.econbiz.de/10012962158

Thin Capitalization Rules and Multinational Firm Capital Structure

Blouin, Jennifer - 2014

This paper examines the impact of thin capitalization rules that limit the tax deductibility of interest on the capital structure of the foreign affiliates of US multinationals. We construct a new data set on thin capitalization rules in 54 countries for the period 1982-2004. Using confidential...

Persistent link: https://www.econbiz.de/10013058436

Islamic Finance, Consumer Protection, and Financial Stability

Lukonga, Inutu - 2015

Consumer protection and financial literacy are essential pillars of a well functioning and stable financial system. As the global financial crisis demonstrated, inadequate attention to consumer protection and financial literacy can lead to financial instability. Though Shari'ah principles...

Persistent link: https://www.econbiz.de/10013021443

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