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Putting the financial system to work for the poor and SMEs
Osman, Abdul Magid; Osman, Djamila Pontes - 2020
measures to expand credit to family subsistence farmers, small and medium-sized enterprises, the population in general, and low …
Persistent link: https://www.econbiz.de/10012301897
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Tax policy, venture capital, and entrepreneurship
Keuschnigg, Christian; Nielsen, Søren Bo - 2000
, progressive taxation as well as investment and output subsidies to the entrepreneurial sector. …
Persistent link: https://www.econbiz.de/10011536625
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Risk-Based Student Loans
Simkovic, Michael - 2013
Credit markets serve a vi ... …
Persistent link: https://www.econbiz.de/10013092316
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Securities laws and the choice between loans and bonds for highly levered firms
Prilmeier, Robert; Stulz, René M. - 2019
In contrast to bonds, cov-lite loans do not require SEC registration and are not subject to securities laws. We show that this distinction plays an important role in firms' choice between funding through cov-lite loans and bonds and helps understand why the market share of cov-lite loans has...
Persistent link: https://www.econbiz.de/10012101811
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Screening as a Unified Theory of Delinquency, Renegotiation, and Bankruptcy
Kovrijnykh, Natalia - 2015
We propose a parsimonious model with adverse selection where delinquency, renegotiation, and bankruptcy all occur in equilibrium as a result of a simple screening mechanism. A borrower has private information about her cost of bankruptcy, and a lender may use random contracts to screen different...
Persistent link: https://www.econbiz.de/10013030850
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Which government interventions are good in alleviating credit market failures?
Janda, Karel (contributor) - 2008
be eliminated by a government support in the form of credit guarantees or subsidies. The principal-agent model of this … socially efficient projects which would not be financed otherwise. -- information asymmetry ; credit ; guarantees ; subsidies … interest rate is not a sufficiently robust policy instrument. Lump-sum guarantees and interest rate subsidies are evaluated as …
Persistent link: https://www.econbiz.de/10003755164
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Credit guarantees and subsidies when lender has a market power
Janda, Karel - 2011
Provision of credit guarantees or subsidies may remove an adverse selection leading to credit rationing. This paper … concentrates on comparison of government budget costs of credit guarantees and subsidies in a monopolistic credit market. Different … subsidies as an intervention instrument. -- credit ; subsidies ; guarantees …
Persistent link: https://www.econbiz.de/10009152595
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Credit Rationing and Public Support of Commercial Credit
Janda, Karel - 2011
government support in the form of credit guarantees or interest rate subsidies. This paper compares different forms of government … support and concludes that credit guarantees and interest rate subsidies have a nonambiguous positive effect on social …Credit contracting between a lender with monopoly market power and a small start-up entrepreneur may lead to the …
Persistent link: https://www.econbiz.de/10013125484
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A Tax-Systems Perspective on Recent Global Tax Initiatives
Neubig, Thomas S. - 2017
We present four important dimensions to international tax policy from a tax-systems perspective, stressing that non-rate/base tax policies can have different cross-jurisdictional spillover effects than changes in tax rates. The dimensions are the allocation of global income among taxing...
Persistent link: https://www.econbiz.de/10012964603
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Optimal Debt Bias in Corporate Income Taxation
Simon, Jenny - 2015
I present a rationale for a government to discriminate between debt and equity financing when taxing corporate income. For risk-averse entrepreneurs, equity generates more surplus than debt, because it provides financing and insurance. A government seeking to extract surplus from entrepreneurs...
Persistent link: https://www.econbiz.de/10013011801