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Taxation and the optimal constraint on corporate debt finance
Sørensen, Peter Birch - 2014
Persistent link: https://www.econbiz.de/10010516780
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Aggregate implications of corporate bond holdings by nonfinancial firms
Ferreira, Miguel H. - 2023
This paper explores the impact of risky asset holdings by U.S. nonfinancial firms. From the early 1990s to 2017, the share of risky securities surged from 28% to over 40% of firms' financial assets. Using a business-cycle heterogeneous firms model, I show that declining real interest rates since...
Persistent link: https://www.econbiz.de/10014455419
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An elementary model of VC financing and growth
Greenwood, Jeremy; Han, Pengfei; Inokuma, Hiroshi; … - 2022
Persistent link: https://www.econbiz.de/10013447945
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Capital structure and financial flexibility : expectations of future shocks
Lambrinoudakis, Costas; Neumann, Michael; Skiadopoulos, … - 2014 - This draft: 3 October 2014
We test one of the main predictions of the financial flexibility paradigm that expectations about future firm-specific shocks affect the firm's leverage. We extract the expectations of small and large future shocks from the market prices of equity options. We find that expectations for future...
Persistent link: https://www.econbiz.de/10010472840
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Capital structure misallocation
Whited, Toni Marion; Zhao, Jake - 2015
Persistent link: https://www.econbiz.de/10011447302
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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
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Corporate debt and investment in the post-Covid world
Heresi, Rodrigo; Powell, Andrew - 2022
We study the relationship between corporate debt, corporate risk and firm-level investment, using a sample of 25,000 listed companies across 47 countries over the last two decades. We find higher leverage reduces investment but show the effect varies with risk, as measured by firm time-varying...
Persistent link: https://www.econbiz.de/10014495148
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Firms' capital structure and employment in the aftermath of the 2008-9 financial crisis
Acconcia, Antonio; Fabbri, Daniela; Menichini, Anna Maria - 2023
Persistent link: https://www.econbiz.de/10014420289
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COVID-19 and corporate finance
Pagano, Marco; Zechner, Josef - 2022
Persistent link: https://www.econbiz.de/10013392365
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Optimal clean energy R&D investments under uncertainty
Marangoni, Giacomo; De Maere d'Aertrycke, Gauthier; … - 2017
produced by climate-economy models while introducing the dimension of uncertainty in innovation ef- forts, without succumbing … evaluating optimal near-term innovation investment portfolios in four key clean energy technologies (solar, biofuels … innovation to improve the performance of these technologies. We employ an IAM (WITCH) which has a fairly rich description of the …
Persistent link: https://www.econbiz.de/10011622101