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Why Do Companies Go Public? An Empirical Analysis
Pagano, Marco; Panetta, Fabio; Zingales, Luigi - 2021
finance subsequent investment and growth, but to reduce leverage, (iv) going public reduces the cost of bank credit; (v) it is …
Persistent link: https://www.econbiz.de/10013244375
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Why Do Companies Go Public? An Empirical Analysis
Pagano, Marco - 1995
finance subsequent investment and growth, but to reduce leverage, (iv) going public reduces the cost of bank credit; (v) it is …
Persistent link: https://www.econbiz.de/10012473502
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Do Financing Constraints Explain Why Investment is Correlated with Cash Flow?
Kaplan, Steven N. - 1995
This paper investigates the sources of the correlation between corporate cash flow and investment by undertaking an in-depth analysis of the 49 low-dividend firms identified by Fazzari, Hubbard, and Petersen (1988) as having an unusually high investment-cash flow sensitivity. We find that in...
Persistent link: https://www.econbiz.de/10012473608
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Kill Zone
Kamepalli, Sai Krishna - 2020
We study why high-priced acquisitions of entrants by an incumbent do not necessarily stimulate more innovation and entry in an industry (like that of digital platforms) where customers face switching costs and enjoy network externalities. The prospect of an acquisition by the incumbent platform...
Persistent link: https://www.econbiz.de/10012481729
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Kill Zone
Kamepalli, Sai Krishna; Rajan, Raghuram G.; Zingales, Luigi - 2022
We study why acquisitions of entrant firms by an incumbent can deter innovation and entry in the digital platform industry, where there are strong network externalities and some customers face switching costs. A high probability of an acquisition induces some potential early adopters to wait for...
Persistent link: https://www.econbiz.de/10013298326
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Over-Optimistic Official Forecasts in the Eurozone and Fiscal Rules
Frankel, Jeffrey A. - 2012
. The members of the eurozone are supposedly constrained by the fiscal caps of the Stability and Growth Pact. Yet ever since …:•Governments' budget forecasts are biased in the optimistic direction, especially among the Eurozone countries, especially when they have …-optimistic during booms.•Despite the well-known tendency of eurozone members to exceed the 3% cap on budget deficits, often in …
Persistent link: https://www.econbiz.de/10013102194
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Monnet's Error?
Guiso, Luigi - 2015
-Europe sentiment as does the 2010 Eurozone crisis. Yet, in spite of the worst recession in recent history, the Europeans still support …
Persistent link: https://www.econbiz.de/10013023682
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Bias in Official Fiscal Forecasts : Can Private Forecasts Help?
Frankel, Jeffrey A. - 2016
Government forecasts of GDP growth and budget balances are generally more over-optimistic than private sector forecasts. When official forecasts are especially optimistic relative to private forecasts ex ante, they are more likely also to be over-optimistic relative to realizations ex post. For...
Persistent link: https://www.econbiz.de/10012988513
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The Endogeneity of the Optimum Currency Area Criteria
Frankel, Jeffrey A.; Rose, Andrew Kenan - 2021
A country's suitability for entry into a currency union depends on a number of economic conditions. These include, inter alia, the intensity of trade with other potential members of the currency union, and the extent to which domestic business cycles are correlated with those of the other...
Persistent link: https://www.econbiz.de/10013249558
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The Endogeneity of the Optimum Currency Area Criteria
Frankel, Jeffrey A. - 1996
A country's suitability for entry into a currency union depends on a number of economic conditions. These include, inter alia, the intensity of trade with other potential members of the currency union, and the extent to which domestic business cycles are correlated with those of the other...
Persistent link: https://www.econbiz.de/10012473138