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like no other at a time of record-breaking debt levels, especially among nonfinancial firms across the world, could …-pronged approach to investigate the relationship between corporate leverage and fixed investment spending. The empirical analysis …
Persistent link: https://www.econbiz.de/10012486107
We study how credit market deregulation and increased international financial openness have changed corporate borrowing. The evidence comes from a large panel of publicly traded firms in 38 countries over the period 1994-2002. Reforms are measured with a comprehensive new index that tracks six...
Persistent link: https://www.econbiz.de/10014401074
and GDP in a range of countries. Post-crisis GDP contractions are mainly accounted for by declines in investment and … inventory and are more severe for emerging market countries. Post-crisis investment and inventory declines are correlated with …
Persistent link: https://www.econbiz.de/10014404095
boost afforded by the tax and maintain domestic investment-saving equilibrium. The paper demonstrates that spillover effects … from the tax reform are positive in the long run as other countries' exports benefit from additional investment in the …
Persistent link: https://www.econbiz.de/10012001561
This paper uses the financial crisis of 2008 as a natural experiment to demonstrate that when measuring investment … investment-cash flow sensitivity, which decreased substantially after the crisis when banks changed their expectations about the … value of assets on firms'' balance sheets. This paper deepens our understanding of firms'' investment behavior …
Persistent link: https://www.econbiz.de/10014396632
We study the impact of the COVID-19 recession on capital structure of publicly listed U.S. firms. Our estimates suggest leverage (Net Debt/Asset) decreased by 5.3 percentage points from the pre-shock mean of 19.6 percent, while debt maturity increased moderately. This de-leveraging effect is...
Persistent link: https://www.econbiz.de/10012796218
Persistent link: https://www.econbiz.de/10012392538
Based on U.S. data, the returns on foreign direct investment in emerging markets are shown to be substantially higher …
Persistent link: https://www.econbiz.de/10014399589
This paper assesses whether corporate liquidity needs in the G7 economies were met during the containment phase of the COVID-19 pandemic (February-June 2020) using various approaches to identify credit supply shocks. The pandemic crisis adversely affected nonfinancial corporate sector cash...
Persistent link: https://www.econbiz.de/10012518978
. At the same time, higher gross corporate saving have not supported a commensurate increase in fixed capital investment …
Persistent link: https://www.econbiz.de/10011978446