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Law and Finance c. 1900
Musacchio, Aldo - 2010
How persistent are the effects of legal institutions adopted or inherited in the distant past? A substantial literature argues that legal origins have persistent effects that explain clear differences in investor protections and financial development around the world today (La Porta et al, 1998,...
Persistent link: https://www.econbiz.de/10012462439
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Law and Finance
Porta, Rafael La - 1996
This paper examines legal rules covering protection of corporate shareholders and creditors, the origin of these rules, and the quality of their enforcement in 49 countries. The results show that common law countries generally have the best, and French civil law countries the worst, legal...
Persistent link: https://www.econbiz.de/10012473181
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Law and Firms' Access to Finance
Beck, Thorsten - 2004
system by using firm-level survey data on the obstacles that firms face in raising external finance. The paper assesses two … system is more important for explaining the obstacles that firms face in accessing external finance than the political …
Persistent link: https://www.econbiz.de/10012468004
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Law and firms' access to finance
Beck, Thorsten - 2004
system by using firm-level survey data on the obstacles that firms face in raising external finance. The paper assesses two … system is more important for explaining the obstacles that firms face in accessing external finance than the political …
Persistent link: https://www.econbiz.de/10010523108
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Finanzierung bleibt Engpass für mehr Wachstum
Nerb, Gernot - In: Ifo Schnelldienst 57 (2004) 15, pp. 48-49
Insbesondere Klein- und mittlere Unternehmen haben in den letzten beiden Jahren ihre Investitionsvorhaben wegen …
Persistent link: https://www.econbiz.de/10005013322
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Finanzierungssituation der deutschen Unternehmen: Finanzierungsschwierigkeiten trotz Wirtschaftsaufschwung?
Drews, Stefan - In: Ifo Schnelldienst 63 (2010) 09, pp. 21-24
Umfrageergebnisse deuten seit einiger Zeit auf eine leichte Verbesserung in der Kreditversorgung der Unternehmen hin …. Indikatoren, wie die Eigenkapitalausstattung der Unternehmen und der Banken oder auch die Kreditausfallraten in den Büchern der … Ergebnis, dass viele Unternehmen gerade bei dem jetzt anlaufenden Konjunkturaufschwung überhaupt erst in …
Persistent link: https://www.econbiz.de/10008534397
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A Sufficient Statistics Approach for Aggregating Firm-Level Experiments
Sraer, David - 2018
We consider a dynamic economy populated by heterogeneous firms subject to generic capital frictions: adjustment costs, taxes and financing constraints. A random subset of firms in this economy receives an empirical "treatment", which modifies the parameters governing these frictions. An...
Persistent link: https://www.econbiz.de/10012453505
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Financing as a Supply Chain : The Capital Structure of Banks and Borrowers
Gornall, William - 2013
We develop a model of the joint capital structure decisions of banks and their borrowers. Strikingly high bank leverage emerges naturally from the interplay between two sets of forces. First, seniority and diversification reduce bank asset volatility by an order of magnitude relative to that of...
Persistent link: https://www.econbiz.de/10012459028
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Eclipse of the Public Corporation or Eclipse of the Public Markets?
Doidge, Craig - 2018
Since reaching a peak in 1997, the number of listed firms in the U.S. has fallen in every year but one. During this same period, public firms have been net purchasers of $3.6 trillion of equity (in 2015 dollars) rather than net issuers. The propensity to be listed is lower across all firm size...
Persistent link: https://www.econbiz.de/10012453449
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Financiers vs. Engineers : Should the Financial Sector be Taxed or Subsidized?
Philippon, Thomas - 2007
I study the allocation of human capital in an economy with production externalities, financial constraints and career choices. Agents choose to become entrepreneurs, workers or financiers. Entrepreneurship has positive externalities, but innovators face borrowing constraints and require the...
Persistent link: https://www.econbiz.de/10012465087