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Beck, Thorsten - 2003

We examine the impact of bank supervision on the financing obstacles faced by almost 5,000 corporations across 49 …. Finally, we find that bank supervisory agencies that force accurate information disclosure by banks and enhance private …

Persistent link: https://www.econbiz.de/10012786649

Capital Market Financing, Firm Growth, Firm Size Distribution

Didier, Tatiana - 2014

Which firms issue equity and debt in domestic and international markets and what happens to their assets, sales, and number of employees? To answer these questions, we assemble a new dataset on firm-level capital raising activity during 1991-2011, which we match with firm attributes for 45,527...

Persistent link: https://www.econbiz.de/10013050155

Firm-Specific Resources, Financial-Market Development and the Growth of U.S. Multinationals

Feinberg, Susan - 2002

We study the resource allocation decisions of U.S. multinational corporations (MNCs). We examine how established MNCs grow across countries and how firm-specific resources and host country financial-market development influence MNC growth. We find evidence of intra-firm trade-offs to growth in...

Persistent link: https://www.econbiz.de/10012787093

Governance and Stakeholders

Mehrotra, Vikas - 2017

Economic models routinely assume firms maximize shareholder wealth; however common law legal systems only require that officers and directors pursue the interests of the corporation, leaving this ill-defined. Economic arguments for shareholder wealth maximization derived from shareholders'...

Persistent link: https://www.econbiz.de/10012954931

Financial Frictions, Investment and Tobin's Q

Lorenzoni, Guido - 2007

We develop a model of investment with financial constraints and use it to investigate the relation between investment and Tobin's q. A firm is financed partly by insiders, who control its assets, and partly by outside investors. When their wealth is scarce, insiders earn a rate of return higher...

Persistent link: https://www.econbiz.de/10012776954

Finance and Governance in Developing Economies

Morck, Randall - 2011

Classic Big Push industrialization envisions state planners coordinating economic activity to internalize a range of externalities that otherwise lock in a low-income equilibrium, but runs afoul of well-known government failure problems. Successful Big Push coordination may occur instead when a...

Persistent link: https://www.econbiz.de/10013128601

Bank Ties and Bond Market Access : Evidence on Investment-Cash Flow Sensitivity in Japan

McGuire, Patrick - 2003

paper investigates whether bank ties in Japan were costly for mature and healthy firms in the 1980's and 1990's, and whether … banks continued to facilitate investment once non-bank financing options became available. Using the explicit bond issuing … much larger for main bank client firms, once bond market access is controlled for. This result, coupled with results on the …

Persistent link: https://www.econbiz.de/10012786618

Why Does Fast Loan Growth Predict Poor Performance for Banks?

Fahlenbrach, Rüdiger - 2016

From 1973 to 2014, the common stock of U.S. banks with loan growth in the top quartile of banks over a three-year period significantly underperforms the common stock of banks with loan growth in the bottom quartile over the next three years. The benchmark-adjusted cumulative difference in...

Persistent link: https://www.econbiz.de/10012996390

Product Innovation, Product Diversification, and Firm Growth : Evidence from Japan's Early Industrialization

Braguinsky, Serguey; Ohyama, Atsushi; Okazaki, Tetsuji; … - 2022

(horizontal differentiation). The market context is Japan’s cotton spinning industry at the turn of the last century. We find that …

Persistent link: https://www.econbiz.de/10013321836

Size and Growth of Japanese Plants in the United States

Blonigen, Bruce A.; Tomlin, Kasaundra - 2021

Using a unique database on all Japanese manufacturing plants in the United States, we examine the relationship between plant size and growth for these foreign-owned plants. These plants average sizes are three times larger than comparable U.S. plants and experienced 30 percent growth from 1987...

Persistent link: https://www.econbiz.de/10013227197

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