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Bank credit and market-based finance for corporations : the effects of minibond issuances

Ongena, Steven; Pinoli, Sara; Rossi, Paola; Scopelliti, … - 2020

their leverage …

Persistent link: https://www.econbiz.de/10012419623

Bank credit and market-based finance for corporations : the effects of minibond issuances

Ongena, Steven; Pinoli, Sara; Rossi, Paola; Scopelliti, … - 2020

-post performance, we find that issuer firms expand their total assets and fixed assets, and also raise their leverage. …

Persistent link: https://www.econbiz.de/10012390449

Leveraging SME finance through value chains in Kazakhstan

Kapparov, Kassymkhan - 2019

One of the major issues for SME development has been access to finance. This paper examines the current state of SME development and financing in Kazakhstan. It also examines the current state of the development of value chains and discusses barriers for agriculture value chain financing. The...

Persistent link: https://www.econbiz.de/10012113904

Bank credit and market-based finance for corporations : the effects of minibond issuances

Ongena, Steven; Pinoli, Sara; Rossi, Paola; Scopelliti, … - 2021

issuer firms expand their total assets and fixed assets, and also raise their leverage …

Persistent link: https://www.econbiz.de/10012614108

Leverage over the firm life cycle, firm growth, and aggregate fluctuations

Dinlersoz, Emin Murat; Kalemli-Ozcan, Sebnem; Hyatt, … - 2019

We study the leverage of U.S. firms over their life cycles and the connection between firm leverage, firm growth, and ….S. Census Bureau’s Longitudinal Business Database for the period 2005–12. Public and private firms exhibit different leverage … dynamics over their life cycles. Firm age and size are systematically related to leverage for private firms but not for public …

Persistent link: https://www.econbiz.de/10012063843

Market timing of long-term debt issuance

Witmer, Jonathan - 2009

The literature on market timing of long-term debt issuance yields mixed evidence that managers can successfully time … their debt-maturity issuance. The early results that are indicative of debt-maturity timing are not robust to accounting for … structural breaks or to other measures of debt maturity from firm-level data that account for call and put provisions in debt …

Persistent link: https://www.econbiz.de/10003933249

Financial systems : importance, differences and convergence

Schmidt, Reinhard H.; Hryckiewicz, Aneta - 2006

This paper provides an overview of conceptual issues and recent research findings concerning the structure and the role of financial systems and an introduction into the new research area of comparative financial systems. The authors start by pointing out the importance of financial systems in...

Persistent link: https://www.econbiz.de/10010376187

The deep-pocket effect of internal capital markets

Boutin, Xavier; Cestone, Giacinta; Fumagalli, Chiara; … - 2009

We provide evidence suggesting that incumbents' access to group deep pockets has a negative impact on entry in product markets. Relying on a unique French data set on business groups, our paper presents three major findings. First, the amount of cash holdings owned by incumbent-affiliated groups...

Persistent link: https://www.econbiz.de/10008824490

An analysis of the effects of the severance payment reform on credit to Italian SMEs

Calcagno, Riccardo; Kräussl, Roman; Monticone, Chiara - 2008

We study the effects of the reform of the system of severance payments (TFR) of Italian employees on the cost and the access to credit for small and medium-size enterprises (SMEs). The most direct consequence of the reform is to reduce in the long run the amount of liquid assets available to...

Persistent link: https://www.econbiz.de/10011377271

Multiple buffer CoCos and their impact on financial stability

Neamtu, Ioana - 2020

global games methodologies. Contingent convertible bonds are meant to act as a bail-in mechanism for banks, where CoCo debt …

Persistent link: https://www.econbiz.de/10012161027