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More than connectedness: Heterogeneity of CEO social network and firm value
Fang, Yiwei; Francis, Bill; Hasan, Iftekhar - 2012
This paper examines through various channels the effects of CEO social network heterogeneity on firm value. We … geographical exposures of individuals in the CEO social network. We find that CEO social network heterogeneity leads to higher … Tobin's Q of firms. Greater CEO social network heterogeneity also leads to: (i) more innovation, (ii) more foreign sales …
Persistent link: https://www.econbiz.de/10012148160
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Start-up financing in the digital age: A systematic review and comparison of new forms of financing
Klein, Maximilian; Neitzert, Florian; Hartmann-Wendels, … - In: The Journal of Entrepreneurial Finance (JEF) 21 (2019) 2, pp. 46-98
Start-ups are seen as the leading force in dynamically growing economies. Limited financing opportunities often prevent entrepreneurs from realizing their innovative business ideas or taking growth opportunities. However, in the context of the technological revolution, a fundamental change in...
Persistent link: https://www.econbiz.de/10013366706
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The Effect of the Global Financial Crisis on Corporate Investment in Korea: From the Perspective of Costly External Finance
Jeong, Dae hee - In: KDI Journal of Economic Policy 37 (2015) 1, pp. 19-44
This paper examines the effect of the global financial crisis on corporate investment in Korea. Specifically, the crisis was considered to have possibly constrained firm-level investment as the negative shock to the credit supply dramatically unfolded. As Duchin et al. (2010) demonstrated, if a...
Persistent link: https://www.econbiz.de/10012034778
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The Quest for Stability: The View of Financial Institutions
Blommestein, Hans J.; Hoogduin, Lex H.; Peeters, … - 2010
On September 3-4, 2009 SUERF and Utrecht University School of Economicsorganized the Colloquium "The Quest for Stability" in Utrecht, the Netherlands. The papers included in this SUERF Study are based on contributions to the Colloquium.
Persistent link: https://www.econbiz.de/10011689944
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Does it pay to have friends? Social ties and executive appointments in banking
Berger, Allen N.; Kick, Thomas; Koetter, Michael; … - 2011
Social capital theory predicts individuals establish social ties based on homophily, i.e., affinities for similar others. We exploit a unique sample to analyze how similarities and social ties affect career outcomes in banking based on age, education, gender, and employment history to examine if...
Persistent link: https://www.econbiz.de/10010308733
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Public Bank Guarantees and Allocative Efficiency
Gropp, Reint E.; Guettler, Andre; Saadi, Vahid - 2015
In the wake of the recent financial crisis, many governments extended public guarantees to banks. We take advantage of a natural experiment, in which long-standing public guarantees were removed for a set of German banks following a lawsuit, to identify the real effects of these guarantees on...
Persistent link: https://www.econbiz.de/10011306638
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Bank lines of credit as contingent liquidity: A study of covenant violations and their implications
Acharya, Viral; Almeida, Heitor; Ippolito, Filippo; … - 2014
We study how the consequences of violations of covenants associated with bank lines of credit to firms vary with the financial health of lenders. Following a violation banks restrict usage of lines of credit by raising spreads, shortening maturities, tightening covenants, or cancelling the line...
Persistent link: https://www.econbiz.de/10011605747
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Die Beziehungen der Norddeutschen Wollkämmerei und Kammgarnspinnerei zu den Banken
Wixforth, Harald - 2017
The Relationship of the Norddeutsche Wollkämmerei und Kammgarnspinnerei (Nordwolle Group) with the Banks: Research into the relationship between banking and industry has long held the view that banks had dominated their clientele from industry, trade and retailing and they had established a...
Persistent link: https://www.econbiz.de/10011661917
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Bank Lines of Credit in Liquidity Management - The Impact of Recall Risk for German SMEs
Schertler, Andrea; Pfingsten, Andreas; Hubensack, Carsten - 2010
We use a unique sample of self-employed and corporate clients provided by a universal bank in Germany to investigate how recall risk of recallable bank lines of credit impact cash holdings and line usage. While the bank does not require an upfront fee for providing a line of credit, which may...
Persistent link: https://www.econbiz.de/10010270134
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On the Valuation and Analysis of Risky Debt: A Theoretical Approach Using a Multivariate Extension of the Merton Model
Fischer, Edwin O.; Kampl, Lisa-Maria; Woeckl, Ines - In: Credit and Capital Markets – Kredit und Kapital 56 (2023) 2, pp. 197-232
This paper is concerned with the valuation and analysis of default-risky debt instruments with arbitrary interest and principal payments. For the valuation, we use three nested multivariate extensions of the standard Merton (1974) model for pricing risky zero-coupon bonds. First, we present a...
Persistent link: https://www.econbiz.de/10014556399