Similar Search Results

Corporate Resilience to Banking Crises : The Roles of Trust and Trade Credit

Levine, Ross - 2016

Are firms more resilient to systemic banking crises in economies with higher levels of social trust? Using firm-level data in 34 countries from 1990 through 2011, we find that liquidity-dependent firms in high-trust countries obtain more trade credit and suffer smaller drops in profits and...

Persistent link: https://www.econbiz.de/10012456522

Lack of Selection and Limits to Delegation : Firm Dynamics in Developing Countries

Akcigit, Ufuk - 2016

. We calibrate the model to firm-level data from the U.S. and India. We show that the model is quantitatively consistent … quantitative analysis shows that the low efficiency of delegation in India can account for 5% of productivity and 15% of income … differences between the U.S. and India in steady state. We also show that such inefficient delegation possibilities reduce the …

Persistent link: https://www.econbiz.de/10012456767

Government Guarantees and Bank Vulnerability during a Crisis : Evidence from an Emerging Market

Acharya, Viral V. - 2019

We analyze the performance of Indian banks during 2007-09 relative to their vulnerability to a crisis measured using pre-crisis data, in order to study the impact of government guarantees on bank performance during a crisis. Using bank branch-level regulatory data, we exploit geographic...

Persistent link: https://www.econbiz.de/10012480508

The Macroeconomics of Trade Credit

Bocola, Luigi; Bornstein, Gideon - National Bureau of Economic Research - 2023

In most countries, suppliers of intermediate goods and services are also the main providers of short-term financing to firms. This paper studies the macroeconomic implications of these financial links. In our model, trade credit is the outcome of a long-term contract between firms linked in the...

Persistent link: https://www.econbiz.de/10014247947

From Carry Trades to Trade Credit : Financial Intermediation by Non-Financial Corporations

Hardy, Bryan; Saffie, Felipe - National Bureau of Economic Research - 2023

We use unique firm-level data from Mexico to document that non-financial corporations engage in carry trades by borrowing in foreign currency (FX) and lending in domestic currency, largely in the form of trade credit, accumulating currency risk in the process. We show at a quarterly frequency...

Persistent link: https://www.econbiz.de/10014250200

Credit Rationing, Risk Aversion and Industrial Evolution in Developing Countries

Bond, Eric - 2008

Relative to their counterparts in high-income regions, entrepreneurs in developing countries face less efficient financial markets, more volatile macroeconomic conditions, and higher entry costs. This paper develops a dynamic empirical model that links these features of the business environment...

Persistent link: https://www.econbiz.de/10012464529

Foreign Know-How, Firm Control, and the Income of Developing Countries

Burstein, Ariel - 2007

Managerial know-how shapes the productivity of firms by defining the set of available technologies, production choices, and market opportunities. This know-how can be reallocated across countries as managers acquire control of factors of production abroad. In this paper, we construct a...

Persistent link: https://www.econbiz.de/10012465581

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

Choosing between Growth and Glory

Belenzon, Sharon - 2018

Prior work has established that the financing environment can impact firm strategy. We argue that this influence can shape the earliest strategic choices of a new venture by creating a potential tradeoff between two objectives: rapid growth and reaping the benefits of a positive reputation...

Persistent link: https://www.econbiz.de/10012480556

Firm Dynamics and Financial Development

Arellano, Cristina - 2009

This paper studies the impact of cross-country variation in financial market development on firms' financing choices and growth rates using comprehensive firm-level datasets. We document that in less financially developed economies, small firms grow faster and have lower debt to asset ratios...

Persistent link: https://www.econbiz.de/10012463456

1
2
3
4
5
6
7
8
9
10
Next
Last