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Firm Financing in Chile after the 2014-15 Tax Reform : Debt or Equity? Debt or Equity?
Hernandez, Fernando Leonardo - 2017
their operations with equity versus debt. The analysis comprises a comparison with the situation of the pre-reform period … will choose debt over equity. The cash-based or semi-integrated system becomes the preferred option only when elusion (or …
Persistent link: https://www.econbiz.de/10012967492
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Debt and Financial Crises
Koh, Wee Chian - 2020
Emerging market and developing economies have experienced recurrent episodes of rapid debt accumulation over the past … fifty years. This paper examines the consequences of debt accumulation using a three-pronged approach: an event study of … debt accumulation episodes in 100 emerging market and developing economies since 1970; a series of econometric models …
Persistent link: https://www.econbiz.de/10012843341
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Corporate Governance and Bank Insolvency Risk : International Evidence
Anginer, Deniz - 2017
This paper finds that shareholder-friendly corporate governance is positively associated with bank insolvency risk, as proxied by the Z-score and the Merton's distance to default measure, for an international sample of banks over the 2004-08 period. Banks are special in that "good" corporate...
Persistent link: https://www.econbiz.de/10012972797
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How Does Corporate Governance Affect Bank Capitalization Strategies?
Anginer, Deniz - 2017
This paper examines how corporate governance and executive compensation affected bank capitalization strategies for an international sample of banks in 2003-2011. "Good" corporate governance, which favors shareholder interests, is found to give rise to lower bank capitalization. Boards of...
Persistent link: https://www.econbiz.de/10012973924
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Foreign Firm Characteristics, Absorptive Capacity and the Institutional Framework : The Role of Mediating Factors for FDI Spillovers in Low- and Middle-Income Countries
Farole, Thomas - 2017
World Bank's Enterprise Surveys, this paper assesses how mediating factors influence intra-industry productivity spillovers …
Persistent link: https://www.econbiz.de/10012974831
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Learning Versus Stealing : How Important are Market-Share -- Reallocations to India's Productivity Growth?
Harrison, Ann E. - 2017
Recent trade theory emphasizes the role of market-share reallocations across firms ( "stealing" ) in driving productivity growth, while the older literature focused on average productivity improvements ( "learning" ). The authors use comprehensive, firm-level data from India's organized...
Persistent link: https://www.econbiz.de/10012975836
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Does Services Liberalization Benefit Manufacturing Firms? Evidence from the Czech Republic
Arnold, Jens Matthias - 2016
While there is considerable empirical evidence on the impact of liberalizing trade in goods, the effects of services liberalization have not been empirically established. Using firm-level data from the Czech Republic for the period 1998-2003, this study examines the link between services sector...
Persistent link: https://www.econbiz.de/10012747868
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Have Robots Grounded the Flying Geese? : Evidence from Greenfield FDI in Manufacturing
Hallward-Driemeier, Mary - 2020
For decades, manufacturers around the world have outsourced production to countries with lower labor costs. However …
Persistent link: https://www.econbiz.de/10012845262
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How Does Long-Term Finance Affect Economic Volatility?
Demirgüç-Kunt, Asli - 2017
This paper examines how the ability to access long-term debt affects firm-level growth volatility. The analysis finds …
Persistent link: https://www.econbiz.de/10012970254
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The Dark Side of Disclosure : Evidence of Government Expropriation from Worldwide Firms
Liu, Tingting - 2017
This paper studies the effects of voluntary accounting information disclosure through auditing on firm access to finance, exposure to corruption, and sales growth. Relying on a data set of more than 70,000 firms in 121 countries, the analysis finds that disclosure can be a double-edged sword. On...
Persistent link: https://www.econbiz.de/10012971795