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Global Capital Flows and Financing Constraints

Harrison, Ann E.; Love, Inessa; McMillan, Margaret S. - 2013

Firms often cite financing constraints as one of their primary obstacles to investment. Global capital flows, by bringing in scarce capital, may ease the financing constraints of host country firms. But if incoming foreign investors borrow heavily from domestic banks, foreign direct investment...

Persistent link: https://www.econbiz.de/10012559547

Corporate Governance, Investor Protection, and Performance in Emerging Markets

Klapper, Leora F.; Love, Inessa - 2013

Recent research studying the link between law, and finance has concentrated on country-level investor protection measures, and focused on differences in legal systems across countries, and legal families. The authors extend this literature, and provide a study of firm-level corporate governance...

Persistent link: https://www.econbiz.de/10012559579

Investor Protection, Ownership, and the Cost of Capital

Himmelberg, Charles P.; Hubbard, R. Glenn; Love, Inessa - 2013

The authors combine the agency theory of the firm with risk diversification incentives for insiders. Principal-agent problems between insiders and outsiders force insiders to retain a larger share in their firm than they would under a perfect risk diversification strategy. The authors predict...

Persistent link: https://www.econbiz.de/10012559596

Financial Development and Growth in the Short and Long Run

Fisman, Raymond; Love, Inessa - 2013

The authors analyze the relationship between financial development and inter-industry resource allocation in the short and long run. They suggest that in the long run, economies with high rates of financial development will devote relatively more resources to industries with a "natural" reliance...

Persistent link: https://www.econbiz.de/10012559762

Collateral Registries for Movable Assets : Does Their Introduction Spur Firms' Access to Bank Finance?

Love, Inessa; Mart??nez Per??a, Mar??a Soledad; Singh, … - 2013

Using firm-level surveys for up to 73 countries, this paper explores the impact of introducing collateral registries for movable assets on firms' access to bank finance. It compares firms' access to bank finance in seven countries that introduced collateral registries for movable assets against...

Persistent link: https://www.econbiz.de/10012560085

How Bank Competition Affects Firms' Access to Finance

Love, Inessa; Mart??nez Peria, Mar??a Soledad - 2012

Combining multi-year, firm-level surveys with country-level panel data for 53 countries, the authors explore the impact of bank competition on firms' access to finance. They find that low competition, as measured by high values of the Lerner index, diminishes firms' access to finance, while...

Persistent link: https://www.econbiz.de/10012557045

Do Reorganization Costs Matter for Efficiency? Evidence from a Bankruptcy Reform in Colombia

Gin??, Xavier; Love, Inessa - 2012

businesses and reorganizing viable ones. The authors test the model using the Colombian bankruptcy reform of 1999. Using data … from 1,924 firms filing for bankruptcy between 1996 and 2003, they find that the pre-reform reorganization proceeding was … lowering reorganization costs, the reform improved the selection of viable firms into reorganization. In this sense, the new …

Persistent link: https://www.econbiz.de/10012553792