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"We argue that a firm's aggregate risk is a key determinant of whether it manages its future liquidity needs through cash reserves or bank lines of credit. Banks create liquidity for firms by pooling their idiosyncratic risks. As a result, firms with high aggregate risk find it costly to get...
Persistent link: https://www.econbiz.de/10003983591
The post-2008 period in the euro area was characterised by sharp dispersion in borrowing costs faced by firms, across both countries and firm types. This dispersion was an important manifestation of the financial fragmentation" which hampered the smooth transmission of accommodative monetary...
Persistent link: https://www.econbiz.de/10011697389
This paper analyzes the importance of retail consumers' banking relationships for loan defaults using a unique, comprehensive dataset of over one million loans by savings banks in Germany. We find that loans of retail customers, who have a relationship with their savings bank prior to applying...
Persistent link: https://www.econbiz.de/10009380932
This paper uses granular data on syndicated loans to analyse the impact of international reforms for Global Systemically Important Banks (G-SIBs) on bank lending behaviour. Using a difference-in-differences estimation strategy, we find no effect of the reforms on overall credit supply, while at...
Persistent link: https://www.econbiz.de/10012299026
stay on debt and collateral collection that applies to virtually all other claims. We propose a simple corporate finance …
Persistent link: https://www.econbiz.de/10009408758
Persistent link: https://www.econbiz.de/10011800004
and Economic Growth and Stability -- Chapter 21. International Business Finance -- Chapter 22. Management … wide range of topics in corporate finance, from time series modeling and regression analysis to multi-factor risk models … and various other foundational concepts of corporate finance. New to the third edition are examinations of APT portfolio …
Persistent link: https://www.econbiz.de/10013334694
disadvantage for partnerships was offset by their ability to finance larger and longer-horizon entrepreneurial ventures …
Persistent link: https://www.econbiz.de/10008823013
Persistent link: https://www.econbiz.de/10003960568
default; ii) they can choose to raise finance through bank loans or corporate bonds; and iii) banks are more efficient than … finance between the US and the euro area. We suggest an explanation of those differences based on information availability …
Persistent link: https://www.econbiz.de/10009009196