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Financial Constraints of Private Firms and Bank Lending Behavior
Behr, Patrick - 2015
We investigate whether and how financial constraints of private firms depend on bank lending behavior. Bank lending behavior, especially its scale, scope and timing, is largely driven by bank business models which differ between privately owned and state-owned banks. Using a unique dataset on...
Persistent link: https://www.econbiz.de/10013038432
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The Objective of a Privately Owned Firm Under Imperfect Competition
Bejan, Camelia - 2014
This paper proposes a model of imperfect competition among privately owned firms that act in the best interest of their shareholders. The existence of a solution for the model is proved under weaker conditions than the ones generally used in the literature. In particular, the results did not...
Persistent link: https://www.econbiz.de/10013051138
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Privatization, Free Riding, and Industry-Expanding Lobbying
Volokh, Alexander - 2013
Critics of privatization argue that privatization encourages providers to lobby for industry expansion. I argue that … expenditures, some initial amount of privatization always decreases industry-expanding advocacy. The extent of privatization for … the extent of collusion. Under relaxed assumptions, the effect of privatization on industry-expanding advocacy is …
Persistent link: https://www.econbiz.de/10014052239
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Private Sanctions
Hart, Oliver; Thesmar, David; Zingales, Luigi - 2022
We survey a representative sample of the U.S. population to understand stakeholders’ desire to see their firms exit Russia after the invasion of Ukraine. 61% of respondents think that firms should exit Russia, regardless of the consequences. Only 37% think that leaving Russia is a purely...
Persistent link: https://www.econbiz.de/10014237512
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Private Sanctions
Hart, Oliver; Thesmar, David; Zingales, Luigi - 2023
We survey a representative sample of the U.S. population to understand stakeholders’ desire to see their firms exit Russia after the invasion of Ukraine. 61% of respondents think that firms should exit Russia, regardless of the consequences. Only 37% think that leaving Russia is a purely...
Persistent link: https://www.econbiz.de/10014254975
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Causal inference by independent component analysis with applications to micro- and macroeconomic data
Moneta, Alessio; Entner, Doris; Hoyer, Patrik; Coad, … - 2010
Structural vector-autoregressive models are potentially very useful tools for guiding both macro- and microeconomic policy. In this paper, we present a recently developed method for exploiting non-Gaussianity in the data for estimating such models, with the aim of capturing the causal structure...
Persistent link: https://www.econbiz.de/10003966642
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Does Business Strategy Impact a Firm's Information Environment?
Bentley-Goode, Kathleen A. - 2017
This study examines whether a firm's business strategy affects their information environment. Organizational theory suggests that firms following an innovative “prospector” strategy have greater incentives to provide more frequent voluntary disclosures than firms following an efficient...
Persistent link: https://www.econbiz.de/10012974903
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Surviving COVID-19 and beyond : a conceptual framework for SMEs in crisis
Kahveci, Eyup - In: Verslas : teorija ir praktika : Vilniaus Gedimino … 22 (2021) 1, pp. 167-179
This study sets out to review in detail the available information on SMEs crisis management. Despite SMEs' crucial role in the economy, relatively little research has been carried out on the effects of the economic crisis on SMEs and how they can cope with a crisis. This work will generate fresh...
Persistent link: https://www.econbiz.de/10012604199
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Long-term firm growth : an empirical analysis of US manufacturers 1959-2015
Dosi, Giovanni; Grazzi, Marco; Moschella, Daniele; … - 2019
Firm growth is an essential feature of market economies, shaping together macroeconomic performance and the evolution of industry structures. As a potential indicator of organizational "fitness" within a competitive environment, firm growth is also a central concern to both the practice and...
Persistent link: https://www.econbiz.de/10012007050
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Revisiting Firm Life Cycle Theory for New Directions in Finance
Stepanyan, Gohar G. - 2012
In the field of finance, the arguments for and against the goal of shareholder value maximization often arise due to: (i) the lack of distinction between the short-run and the long-run corporate performance and objectives, and (ii) the exclusion of time dimension from both theory and practice of...
Persistent link: https://www.econbiz.de/10013102357