towards resolving the debt problem has been limited. Given that fixed costs in setting up ARCs have already been incurred this …

SOX reduces adverse selection costs. Third, we find that on average the total flotation costs have decreased between 3 and … impact of SOX on the costs of going public decreases with smaller offering sizes. …

Does a country's ability to enforce debt contracts affect the sensitivity of economic activity to collateral values? To … assets are transfered to alternative uses - as a proxy for collateral liquidation values. Our measure exploits the ….S. industries. Using a cross-industry cross-country approach, we find that industry size and growth are more sensitive to collateral …

collateral create fragility. A dealer stands between a borrower and a financier. The dealer borrows from the financier to fund … borrower, forming a credit chain. Intermediation profits can thus act as collateral for the loan to fund the dealer's own … project. When these profits are risky, however, using them as collateral may undermine the dealer's incentives, generating …