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How voluntary information sharing systems form: Evidence from a U.S. commercial credit bureau

Liberti, José; Sturgess, Jason; Sutherland, Andrew - 2021

We use the introduction of a U.S. commercial credit bureau to study when lenders adopt voluntary information sharing technology and the resulting consequences for competition and credit access. Our results suggest that lenders trade off access to new markets against heightened competition for...

Persistent link: https://www.econbiz.de/10013254714

Shadow banking: Financial intermediation beyond banks

Jokivuolle, Esa (contributor) - 2018

Shadow banking is a broad concept. A possible definition is that it comprises non-bank institutions which undertake bank-like activities. Another characteristic is that the sector is overall less regulated. Therefore there are still shortcomings in systematic collection of information of the sector.

Persistent link: https://www.econbiz.de/10011985212

Private Equity, Investment and Financial Constraints – Firm-Level Evidence for France and the United Kingdom

Engel, Dirk; Stiebale, Joel - 2009

financing and buyouts by private equity investors on investment of portfolio firms in the UK and France - two countries with … higher investment levels and a lower dependence on internal funds after expansion financing. Buyouts financed by venture … capital companies are neither associated with a decrease in investment spending nor with an increase in the dependence on …

Persistent link: https://www.econbiz.de/10010265827

Sharing the pain? Credit supply and real effects of bank bail-ins

Lopes, Samuel da Rocha; Beck, Thorsten; Silva, André F. - 2018

contraction of funds available through credit lines and reduced investment and employment. These dampening effects are explained …

Persistent link: https://www.econbiz.de/10014564962

Corporate governance benefits of mutual fund cooperation

Renjie, Rex Wang; Verwijmeren, Patrick; Xia, Shuo - 2022

Mutual fund families increasingly hold bonds and stocks from the same firm. We study the implications of such dual holdings for corporate governance and firm decision-making. We present evidence that dual ownership allows financially distressed firms to increase investments and to refinance by...

Persistent link: https://www.econbiz.de/10013412972

Credits and Bank Guarantee Letters in Entrepreneurship Development During Crisis

Ilie, Dragoş - In: Amfiteatru Economic Journal 17 (2015) 38, pp. 212-227

be used in the process of entrepreneurship development within a changing business environment. To achieve the research …

Persistent link: https://www.econbiz.de/10011724938

SME credit risk analysis using bank lending data: An analysis of Thai SMEs

Yoshino, Naoyuki; Taghizadeh-Hesary, Farhad; … - 2015

Small and medium-sized enterprises (SMEs) are the backbone of most Asian economies. The main obstacle to the development of the SME sector is the lack of stable finance. Considering the bank-dominated characteristic of economies in Asia, banks are the main source of financing, and the lack of a...

Persistent link: https://www.econbiz.de/10011311032

Fire-sale spillovers and systemic risk

Duarte, Fernando; Eisenbach, Thomas M. - 2013

We construct a new systemic risk measure that quantifies vulnerability to fire-sale spillovers using detailed regulatory balance sheet data for U.S. commercial banks and repo market data for broker-dealers. Even for moderate shocks in normal times, fire-sale externalities can be substantial. For...

Persistent link: https://www.econbiz.de/10010333593

Conflict of interest in universal banking: Evidence from the post-issue performance of IPO firms

Ber, Hedva; Yafeh, Yishay; Yosha, Oved - 1997

. Furthermore, the stock price performance of firms whose equity is purchased by an investment fund that is affiliated with the … investment fund management results in conflict of interest. Bank managed funds pay too much for bank underwritten IPOs at the …

Persistent link: https://www.econbiz.de/10011608336

A dynamic theory of mutual fund runs and liquidity management

Zeng, Yao - 2017

I model an open-end mutual fund investing in illiquid assets and show that the fund's endogenous cash management can generate shareholder runs even with a flexible NAV. The fund optimally re-builds its cash buffers at time t + 1 after outflows at t to prevent future forced sales of illiquid...

Persistent link: https://www.econbiz.de/10011984825

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