Similar Search Results

The deep-pocket effect of internal capital markets

Boutin, Xavier; Cestone, Giacinta; Fumagalli, Chiara; … - 2009

We provide evidence suggesting that incumbents' access to group deep pockets has a negative impact on entry in product markets. Relying on a unique French data set on business groups, our paper presents three major findings. First, the amount of cash holdings owned by incumbent-affiliated groups...

Persistent link: https://www.econbiz.de/10008824490

Sample separation and the sensitivity of investment to cash flow : is the monotonicity condition empirically satisfied?

Iona, Alfonsina; Leonida, Leone - 2018

This paper studies whether the monotonicity condition of the investment-cash flow sensitivity is satisfied empirically. We show that if this condition holds, then the point of sample separation does not affect the monotonic relationship between the sensitivities of any two complementary classes...

Persistent link: https://www.econbiz.de/10011872436

Economics of voluntary information sharing

Liberti, José; Sturgess, Jason; Sutherland, Andrew - 2018

We show that lenders join a U.S. commercial credit bureau when information asymmetries between incumbents and entrants create an adverse selection problem that hinders market entry. Lenders also delay joining when information asymmetries protect them from competition in existing markets,...

Persistent link: https://www.econbiz.de/10011960063

Regulatory independence and political interference : evidence from EU mixed-ownership utilities’ investment and debt

Cambini, Carlo; Rondi, Laura - 2010 - This draft: 11 May 2010

), while ownership has no effect. Leverage also increases when the IRA is in place, especially so if the regulated firm is …

Persistent link: https://www.econbiz.de/10008729094

Bank-based or market-based financial sources : which is better for the EU?

Esposito, Piero; Larocca, Vittorio; Messori, Marcello; … - 2021

Persistent link: https://www.econbiz.de/10013169329

Lessons from 15 years of experience with the Dutch tax allowance for energy investments for firms

Ruijs, Arjan; Vollebergh, Herman R. J. - 2013

Since 1997 the Netherlands has a tax allowance scheme introduced to promote investments in energy saving technologies … and sustainable energy production. This Energy Investment Tax Allowance (EIA in Dutch) reduces up-front investment costs … is still part of the Dutch energy policy mix. Our evaluation of the EIA contains four lessons. First, the use of tax …

Persistent link: https://www.econbiz.de/10009757392

Options for taxing financial supplies in value added tax : EU VAT and Australian GST models compared

Feria, Rita de la; Walpole, Michael - 2008

Persistent link: https://www.econbiz.de/10003846842

Corporate governance and finance in large German industry : a reply to Professors Edwards and Fischer

Harm, Christian - 1997 - 1. Rev

Persistent link: https://www.econbiz.de/10000955354

Are financing constraints binding for investment? : evidence from natural experiment

Habu, Katarzyna - 2016

Persistent link: https://www.econbiz.de/10011548079

Long-term finance and investment with frictional asset markets

Kozlowski, Julian - 2017

Trading frictions in financial markets affect more long- than short-term bonds generating an upward sloping yield curve. Long-term financing is more expensive in economies with higher trading frictions so firms choose to borrow and invest in shorter horizons and lower productivity projects. The...

Persistent link: https://www.econbiz.de/10011911516