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Endogenous debt maturity : liquidity risk vs. default risk
Manuelli, Rodolfo E.; Sanchez, Juan M. - 2018
Persistent link: https://www.econbiz.de/10011950510
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Hunting the living dead : a "peso problem" in corporate liabilities data
Cherubini, Umberto (contributor); Manera, Matteo (contributor) - 2005
Persistent link: https://www.econbiz.de/10003357089
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The government as a large shareholder : impact on firm value and corporate governance
Fernandes, Marcelo; Novaes, Walter - 2015
in Europe and Latin America, where several governments are large shareholders in a variety of public firms. In a sense …, the subprime crisis induced these governments to behave as active large shareholders. This paper uses a sample of public … firms in Brazil to show that government activism lowers the value of minority shareholders' voting rights. While the …
Persistent link: https://www.econbiz.de/10011405286
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Business tax policy under default risk
Comincioli, Nicola; Vergalli, Sergio; Panteghini, Paolo - 2019
In this article we use a stochastic model with one representative firm to study business tax policy under default risk. We will show that, for a given tax rate, the government has an incentive to reduce (increase) financial instability and default costs if its objective function is welfare (tax...
Persistent link: https://www.econbiz.de/10012006573
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Unconventional monetary policy, leverage & default dynamics
Palombo, Edoardo - 2020
as an expansion of the central bank's balance sheet countering the disruption in private financial intermediation …
Persistent link: https://www.econbiz.de/10012243296
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Liquidity, debt denomination, and currency dominance
Coppola, Antonio; Krishnamurthy, Arvind; Xu, Chenzi - 2023
Persistent link: https://www.econbiz.de/10014246465
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Monitoring the governance of state-owned enterprises : assessing the impact of corporate governance reforms in Brazil
Coelho, Daphne; Teodorovicz, Thomaz; Fritscher, André … - 2024
State-owned enterprises (SOEs) are often justified for correcting market failures, providing essential public services, and fulfilling social objectives. Yet, SOEs face unique governance challenges as agency conflicts usually increase with state ownership. This paper examines Brazil's efforts to...
Persistent link: https://www.econbiz.de/10015054007
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The private sector advances in China : the evolving ownership structures of the largest companies in the Xi Jinping era
Huang, Tianlei; Véron, Nicolas - 2022
This paper documents recent structural changes in China's corporate landscape, based on company level data, providing a … complementary perspective to that of official Chinese statistics. We classify China's largest companies by revenue since 2004 (based …
Persistent link: https://www.econbiz.de/10013184745
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The COVID-19 pandemic and ASEAN+3 corporate debt-at-risk
Ho, Yin Fai; Ong, Li Lian - 2022
Persistent link: https://www.econbiz.de/10013367351
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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