Can monetary policy influence long-term interest rates? Studies that have tackled this question using VARs generally find that monetary policy's influence on long-term interest rates is small and often statistically insignificant. Other studies, however, using a single-equation approach have...

The purpose of this paper is to examine the theoretical arguments presented in the literature related to the issue concerning whether domestic firm value may be enhanced via the use of foreign currency debt. Additionally, it adds to the existing literature in three ways. First, it provides an...

This paper reports survey results regarding leasing practices of small firms. Small firms that lease are more likely to be relatively large manufacturing firms which exhibit higher debt ratios and higher sales growth. The survey responses as well as empirical analyses of pertinent data reveal...

This paper examines the structure of debt covenants in small firms, with emphasis on privately owned firms. It is based on a survey of a large sample of firms drawn from the S&P Register of Corporations. The findings show that debt covenants imposed on small firms differ according to the firm...

In this paper we examine the relationship between ownership differences and small firms' financial policies using a survey of U.S. companies. The study finds that financial policies differ according to the type of ownership (private versus public) and by the ownership differences (family-owned,...