performance levels. The capital structure of Austrian SMEs are biased towards debt-financing and stronger equity, growth and …

capital to a market based leverage ratio of 3%, EUR 84 billion of extra capital would be needed for the largest 60 banks. At … the bank level, the top tertile of well-capitalised banks (with a market based leverage ratio well above 4%) continues …

opportunities, the analysis suggests that a 1 percentage point higher tax rate is associated with 1.3% higher third-party debt. This … debt manipulation. The possibility to locate debts in higher-tax rate countries reduces the effective cost of debt for MNE …, compounding the “debt bias” existing in most tax systems. …

stability. A pro-cyclical tax structure seems to help alleviating the persistence of adverse macroeconomic shocks. …

higher productivity. If such an expansion is debt financed, it can even harm productivity. Excessive ownership concentration …

This paper investigates the likelihood of corporate insolvency and the potential implications of debt overhang of non … the extent to which firms deplete their equity buffers and increase their leverage ratios in the course of the COVID-19 … crisis. Next, relying on regression analysis and looking at the historical relationship between firms’ leverage and …