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An Analysis of the Effects of the Severance Payment Reform on Credit to Italian SMEs
Calcagno, Riccardo; Kraeussl, Roman; Monticone, Chiara - 2008
access to credit for small and medium-size enterprises (SMEs). The most direct consequence of the reform is to reduce in the … reduce the aggregate investment by SMEs in a more than proportional way, since it will restrict the access to credit for some …
Persistent link: https://www.econbiz.de/10010325713
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Firm Investment, Liquidity, and Bank Health: A Panel Study of Asian Firms in the 2000s
Ogawa, Kazuo - 2013
intermediaries develop, firms become more dependent on bank credit so that bank-dependent firms are more vulnerable to external …
Persistent link: https://www.econbiz.de/10010507361
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Business Groups in Emerging Markets - Financial Control and Sequential Investment
Hainz, Christa - 2006
Business groups in emerging markets perform better than unaffiliated firms. One explanation is that business groups substitute some functions of missing institutions, for example, enforcing contracts. We investigate this by setting up a model where firms within the business group are connected...
Persistent link: https://www.econbiz.de/10010333894
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Equity Stakes and Hold-up Problems
Harbaugh, Rick - 2001
Equity ties between businesses change the division of the firms' joint profits, thereby affecting incentives for relation-specific investments and other strategic actions. Depending on which side owns the equity and how readily the equity can be resold, we find that the changed incentives can...
Persistent link: https://www.econbiz.de/10010334612
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Condicionantes institucionais à execução de projetos de infraestrutura: Financiamento de longo prazo
Vazquez, Miguel; Hallack, Michelle; Queiroz, Renato - 2016
Capital stock in residential structures, as well as the distribution of its appropriation and ownership among families are fundamental determinants of the wealth, welfare and productivity of the economy. As part of a broad project on the stock of capital of the Brazilian economy in the 20th...
Persistent link: https://www.econbiz.de/10011818840
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Business groups in emerging markets: financial control and sequential investment
Hainz, Christa - 2006
Business groups in emerging markets perform better than unaffiliated firms. One explanation is that business groups substitute some functions of missing institutions, for example, enforcing contracts. We investigate this by setting up a model where firms within the business group are connected...
Persistent link: https://www.econbiz.de/10010263949
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Common and Separate Ownership of Projects
Gautier, Axel - 2002
This note points out the differences between conducting several projects within one big firm (common ownership) and conducting each project within an independent firm (separate ownership).
Persistent link: https://www.econbiz.de/10010317642
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Derived signals for S & P CNX nifty index futures
Kumar, B. Prasanna - In: Financial Innovation 3 (2017) 20, pp. 1-22
understanding key market signals such as trading margins, credit availability, and price discreteness. Methods: This study considers …. The purpose for V-IGARCH (1, 1) is used to observe the positive effects of credit availability on the variance of futures … margins, as well as credit availability, were cointegrated, thereby indicating a long-term relationship between them. In the …
Persistent link: https://www.econbiz.de/10011808253
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Multinationals stockpiling cash: Exploring a commodity boom
Hansen, Erwin; Wagner, Rodrigo - 2015
This paper explores how affiliates of multinational corporations save liquidity when facing a transitory cash-flow shock. For this a panel is first built of non-publicly traded copper mines in South America between 2001 and 2012, most of them set up as Foreign Direct Investment (FDI). This...
Persistent link: https://www.econbiz.de/10011314195
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CEO's commitment bias, ownership concentration, and innovation decision: Behavioral management of CEO's discretion
Fadhila, Hamza; Ali, Azouzi Mohamed; Anis, Jarboui - In: Cogent Economics & Finance 2 (2014) 1, pp. 1-24
This paper deals with approving the effect of both a governance system and individual cognitive and emotional features in the financial analysis of a firms' innovation decision. After discussing the theoretical linking between ownership concentration and the CEO's attitude and behavior, we are...
Persistent link: https://www.econbiz.de/10011988691