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Corporate Efficiency, Credit Status and Investment
Quader, Manzur - 2014
's constrained credit status changes with the improvement of its efficiency. The results further reveal that financially constrained …
Persistent link: https://www.econbiz.de/10013051438
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Finance and Growth at the Firm Level : Evidence from SBA Loans
Brown, J. David - 2015
lenders. The estimation results imply an increase of 3-4 jobs for each million dollars of loans, suggesting that credit … for the SBA 504 versus 7(a) programs, and with respect to the business cycle, local credit conditions, and within …
Persistent link: https://www.econbiz.de/10013016226
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Hidden Insurance in a Moral Hazard Economy
Bertola, Giuseppe - 2013
We consider an economy where individuals privately choose effort and trade competitively priced securities that pay off with effort-determined probability. We show that if insurance against a negative shock is sufficiently incomplete, then standard functional form restrictions ensure that...
Persistent link: https://www.econbiz.de/10013071425
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The Interdependence of R&D Activity and Debt Financing of Young Firms
Fryges, Helmut - 2011
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/10013117119
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Family Ties
Alesina, Alberto F. - 2013
We study the role of the most primitive institution in society: the family. Its organization and relationship between generations shape values formation, economic outcomes and influences national institutions. We use a measure of family ties, constructed from the World Values Survey, to review...
Persistent link: https://www.econbiz.de/10013082136
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An Economic Analysis of Exclusion Restrictions for Instrumental Variable Estimation
van den Berg, Gerard J. - 2007
Instrumental variable estimation requires untestable exclusion restrictions. With policy effects on individual outcomes, there is typically a time interval between the moment the agent realizes that he may be exposed to the policy and the actual exposure or the announcement of the actual...
Persistent link: https://www.econbiz.de/10012777599
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Defending Gibrat's Law as a Long-Run Regularity
Lotti, Francesca; Santarelli, Enrico; Vivarelli, Marco - 2021
According to Gibrat's Law of Proportionate Effect, the growth rate of a given firm is independent of its size at the beginning of the period examined. While earlier studies tended to confirm the Law, more recent research generally rejects it. This paper reconciles these two streams of...
Persistent link: https://www.econbiz.de/10013317119
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Business Cycle Effects of Credit and Technology Shocks in a DSGE Model with Firm Defaults
Pesaran, M. Hashem - 2011
This paper proposes a theoretical framework to analyze the impacts of credit and technology shocks on business cycle … financial institutions in the transmission of credit and technology shocks to the real economy. A positive credit shock, defined … between loan and deposit rates. The effects of the credit shock tend to be highly persistent even without price rigidities and …
Persistent link: https://www.econbiz.de/10013119292
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Microentrepreneurship in Developing Countries
Jayachandran, Seema - 2020
sector; the impacts of access to credit and other financial services; the impacts of business training; barriers to hiring …
Persistent link: https://www.econbiz.de/10012842044
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Inflation Expectations and Firm Decisions : New Causal Evidence
Coibion, Olivier - 2019
them to raise their prices, increase their utilization of credit, and reduce their employment. However, when policy rates …
Persistent link: https://www.econbiz.de/10012894535