Narrow search
Showing 1 - 10 of 2,131
Cover Image
Finance and Development in an Emerging Market : Argentina and the Interwar Period
Paolera, Gerardo della - 1997
The long-run economic performance of Argentina since World War One has been relatively disappointing until recently … deepening industrializing economy such as" Argentina's. Yet the promise of this trend was unfulfilled: first the outbreak of …
Persistent link: https://www.econbiz.de/10012472576
Cover Image
Capital Markets in China and Britain, 18th and 19th Century : Evidence from Grain Prices
Keller, Wolfgang - 2015
Based on the most comprehensive grain prices available, we employ a storage model to estimate consistent interest rates and compare capital market development in Britain and China. Interest rates for Britain were lower than China's on average by about three percentage points from 1770 to 1860....
Persistent link: https://www.econbiz.de/10012457319
Cover Image
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/10012465562
Cover Image
Interest Rates, Contagion and Capital Controls
Edwards, Sebastian - 2000
In this paper I analyze several issues related to contagion,' including its definition, recent experiences, alternative channels at work, and possible prevention mechanisms. The discussion deals with the macroeconomics implications of contagion, and concentrates on the relationship between the...
Persistent link: https://www.econbiz.de/10012470949
Cover Image
Exploring The Role of Limited Commitment Constraints in Argentina’s "Missing Capital"
Kapička, Marek - 2019
We study why capital accumulation in Argentina was slow in the 1990s and 2000s, despite high productivity growth and … economy shows that the two mechanisms are quantitatively important for the dynamics of Argentina's capital accumulation. The … model accounts for between 50% and 85% of the capital missing from Argentina in the two decades mentioned above, relative to …
Persistent link: https://www.econbiz.de/10012480304
Cover Image
Falling Rates and Rising Superstars
Kroen, Thomas; Liu, Ernest; Mian, Atif; Sufi, Amir - National Bureau of Economic Research - 2021
Do low interest rates contribute to the rise in market concentration? Using data on firm financials and high frequency monetary policy shocks, we find that falling interest rates disproportionately benefit industry leaders, especially when the initial interest rate is already low. Falling rates...
Persistent link: https://www.econbiz.de/10012660046
Cover Image
The Real and Financial Implications of Corporate Hedging
Campello, Murillo - 2010
We study the implications of hedging for firm financing and investment. We do so using an extensive, hand-collected dataset on corporate hedging activities. Hedging can lower the odds of negative firm realizations, reducing the expected costs of financial distress. In theory, this should ease a...
Persistent link: https://www.econbiz.de/10012462029
Cover Image
Corporate Misreporting and Bank Loan Contracting
Graham, John R. - 2007
This paper is the first to study the effect of financial restatement on bank loan contracting. Compared with loans initiated before restatement, loans initiated after restatement have significantly higher spreads, shorter maturities, higher likelihood of being secured, and more covenant...
Persistent link: https://www.econbiz.de/10012464938
Cover Image
What Determines the Structure of Corporate Debt Issues?
Julio, Brandon - 2007
Publicly-traded debt securities differ on a number of dimensions, including quality, maturity, seniority, security, and convertibility. Finance research has provided a number of theories as to why firms should issue debt with different features; yet, there is very little empirical work testing...
Persistent link: https://www.econbiz.de/10012464940
Cover Image
Investment and the Cost of Capital : New Evidence from the Corporate Bond Market
Gilchrist, Simon - 2007
We study the effect of variation in interest rates on investment spending, employing a large panel data set that links yields on outstanding corporate bonds to the issuer income and balance sheet statements. The bond price data -- based on trades in the secondary market -- enable us to construct...
Persistent link: https://www.econbiz.de/10012465479