Narrow search
Showing 1 - 10 of 71
Cover Image
Aggregate risk and the choice between cash and lines of credit
Acharya, Viral V.; Almeida, Heitor; Campello, Murillo - 2010
"We argue that a firm's aggregate risk is a key determinant of whether it manages its future liquidity needs through cash reserves or bank lines of credit. Banks create liquidity for firms by pooling their idiosyncratic risks. As a result, firms with high aggregate risk find it costly to get...
Persistent link: https://www.econbiz.de/10003983591
Cover Image
Aggregate risk and the choice between cash andn lines of credit
Acharya, Viral V.; Almeida, Heitor; Campello, Murillo - 2012
Persistent link: https://www.econbiz.de/10009526530
Cover Image
Aggregate risk and the choice between cash and lines of credit
Acharya, Viral V.; Almeida, Heitor; Campello, Murillo - In: The journal of finance : the journal of the American … 68 (2013) 5, pp. 2059-2116
Persistent link: https://www.econbiz.de/10010204676
Cover Image
Aggregate Risk and the Choice between Cash and Lines of Credit
Acharya, Viral V. - 2012
We model corporate liquidity policy and show that aggregate risk exposure is a key determinant of how firms choose between cash and bank credit lines. Banks create liquidity for firms by pooling their idiosyncratic risks. As a result, firms with high aggregate risk find it costly to get credit...
Persistent link: https://www.econbiz.de/10013102858
Cover Image
Aggregate Risk and the Choice between Cash and Lines of Credit
Acharya, Viral V. - 2010
We argue that a firm's aggregate risk is a key determinant of whether it manages its future liquidity needs through cash reserves or bank lines of credit. Banks create liquidity for firms by pooling their idiosyncratic risks. As a result, firms with high aggregate risk find it costly to get...
Persistent link: https://www.econbiz.de/10012462534
Cover Image
Aggregate Risk and the Choice between Cash and Lines of Credit
Acharya, Viral V. - 2010
We argue that a firm's aggregate risk is a key determinant of whether it manages its future liquidity needs through cash reserves or bank lines of credit. Banks create liquidity for firms by pooling their idiosyncratic risks. As a result, firms with high aggregate risk find it costly to get...
Persistent link: https://www.econbiz.de/10013141860
Cover Image
Efficiency or resiliency? : corporate choice between financial and operational hedging
Acharya, Viral V.; Almeida, Heitor; Amihud, Yakov; Liu, Ping - 2021
Persistent link: https://www.econbiz.de/10012490383
Cover Image
Funding dynamics in crowdinvesting
Hornuf, Lars; Schwienbacher, Armin - 2015 - This version: September 20, 2015
We use hand-collected data from four German crowdinvesting portals to analyze what determines individual investment decisions in crowdinvesting. In contrast with the crowdfunding campaigns on Kickstarter where the typical pattern of project support is U-shaped, we find crowdinvesting dynamics to...
Persistent link: https://www.econbiz.de/10011344435
Cover Image
Market Mechanisms and Funding Dynamics in Equity Crowdfunding
Hornuf, Lars - 2017
Equity crowdfunding is a new form of entrepreneurial finance, in which investors do not receive perks or engage in pre …
Persistent link: https://www.econbiz.de/10012971682
Cover Image
Should Securities Regulation Promote Equity Crowdfunding?
Hornuf, Lars - 2020
contrasts with the traditional ‘law and finance' view that stronger investor protection is better. This situation is … availability of alternative early-stage financing such as venture capital and angel finance. Finally, we offer exploratory evidence … from Germany on the impact of securities regulation on small business finance …
Persistent link: https://www.econbiz.de/10012856738