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Debt overhang, rollover risk, and corporate investment : evidence from the European crisis
Kalemli-Ozcan, Sebnem; Laeven, Luc; Moreno, David - 2019
We quantify the role of financial factors behind the sluggish post-crisis performance of European firms. We use a firm-bank-sovereign matched database to identify separate roles for firm and bank balance sheet weaknesses arising from changes in sovereign risk and aggregate demand conditions. We...
Persistent link: https://www.econbiz.de/10011975573
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Debt overhang, rollover risk, and corporate investment : evidence from the European crisis
Kalemli-Ozcan, Sebnem; Laeven, Luc; Moreno, David - 2018
Persistent link: https://www.econbiz.de/10011862576
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Debt overhang, rollover risk, and corporate investment : evidence from the European crisis
Kalemli-Ozcan, Sebnem; Laeven, Luc; Moreno, David - 2018
Persistent link: https://www.econbiz.de/10011915939
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Debt Overhang, Rollover Risk, and Corporate Investment : Evidence from the European Crisis
Kalemli-Ozcan, Sebnem - 2018
We quantify the role of financial factors that have contributed to sluggish investment in Europe in the aftermath of the 2008-2009 crisis. Using a big data approach, we match the firms to their banks based on banking relationships in 8 European countries over time, obtaining over 2 million...
Persistent link: https://www.econbiz.de/10012453161
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Debt Overhang, Rollover Risk, and Corporate Investment : Evidence from the European Crisis
Kalemli-Ozcan, Sebnem - 2018
We quantify the role of financial leverage behind the sluggish post-crisis investment performance of European firms. We use a cross-country firm-bank matched database to identify separate roles for firm leverage, bank balance sheet weaknesses arising from sovereign risk, and aggregate demand...
Persistent link: https://www.econbiz.de/10012920366
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Debt Overhang, Rollover Risk, and Corporate Investment : Evidence from the European Crisis
Kalemli-Ozcan, Sebnem - 2019
We quantify the role of financial factors behind the sluggish post-crisis performance of European firms. We use a firm-bank-sovereign matched database to identify separate roles for firm and bank balance sheet weaknesses arising from changes in sovereign risk and aggregate demand conditions. We...
Persistent link: https://www.econbiz.de/10012892581
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Debt overhang, rollover risk, and corporate investment : evidence from the European crisis
Kalemli-Ozcan, Sebnem; Laeven, Luc; Moreno, David - In: Journal of the European Economic Association : JEEA 20 (2022) 6, pp. 2353-2395
Persistent link: https://www.econbiz.de/10013542913
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The Real Effects of Financial Sector Interventions During Crises
Valencia, Fabian; Laeven, Luc - International Monetary Fund (IMF) - 2011
We collect new data to assess the importance of supply-side credit market frictions by studying the impact of financial … recent crisis. We develop an identification strategy that uses the financial crisis as a shock to credit supply and exploits … firms more dependent on external financing. These results provide new evidence of a quantitatively important role of credit …
Persistent link: https://www.econbiz.de/10008876580
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Investing in crises
Baron, Matthew; Laeven, Luc; Pénasse, Julien; Usenko, … - 2021
We investigate asset returns around banking crises in 44 advanced and emerging economies from 1960 to 2018. In contrast to the view that buying assets during banking crises is a profitable long-run strategy, we find returns of equity and other asset classes generally underperform after banking...
Persistent link: https://www.econbiz.de/10012518234
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Deposit insurance around the world : a comprehensive analysis and database
Demirgüç-Kunt, Asli; Kane, Edward J.; Laeven, Luc - In: Journal of financial stability 20 (2015), pp. 155-183
Persistent link: https://www.econbiz.de/10011574297