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Financing obstacles among euro area firms
Ferrando, Annalisa; Griesshaber, Nicolas - 2011
In this study we investigate the determinants of financing obstacles using survey data on a sample of around 5000 firms from the euro area countries. This completely new survey – started at the end of 2009 - gives us the opportunity to test whether firm characteristics such as size, age,...
Persistent link: https://www.econbiz.de/10009640626
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Guess what
Koeppl, Thorsten V.; Monnet, Cyril - 2004
Exchanges and other trading platforms are often vertically integrated to carry out trading, clearing and settlement as one operation. We show that such vertical silos can prevent efficiency gains from horizontal consolidation of trading and settlement platforms to be realized. Independent of the...
Persistent link: https://www.econbiz.de/10009639429
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Mergers and acquisitions and bank performance in Europe
Altunbas, Yener - Marqués-Ibáñez, David - 2004
-merger financial performance. We find that, on average, bank mergers in the European Union resulted in improved return on capital. By … significantly different results for domestic and cross-border mergers. For domestic deals, it could be quite costly to integrate … dissimilar institutions in terms of their loan, earnings, cost, deposits and size strategies. For cross-border mergers and …
Persistent link: https://www.econbiz.de/10009639458
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Banking consolidation and small business lending
Takáts, Előd - 2004
The paper investigates small business lending as an information problem. It models the effects of information asymmetries within the bank combined with fixed wages. Two kinds of inefficiencies arise in equilibrium: the credit officer either sometimes shirks or he is occasionally fired. In both...
Persistent link: https://www.econbiz.de/10009639467
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Interbank market integration, loan rates, and firm leverage
Ongena, Steven; Popov, Alexander - 2010
We study the effect of interbank market integration on small firm finance in the build-up to the 2007-2008 financial … findings imply that integration of interbank markets resulted in less stringent borrowing constraints and in substantially …
Persistent link: https://www.econbiz.de/10009640288
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How effective is an incremental ACE in addressing the debt bias? : Evidence from corporate tax returns
Branzoli, Nicola - 2018
Persistent link: https://www.econbiz.de/10011936603
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The high-yield segment of the corporate bond market
Bondt, Gabe de; Marqués, David - 2004
diffusion pattern is significantly affected by financing need variables, e.g. leverage buy-outs, mergers and acquisitions, and …
Persistent link: https://www.econbiz.de/10009636536
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International taxation and multinational firm location decisions
Barrios, Salvador - 2009
Using a large international firm-level data set, we estimate separate effects of host and parent country taxation on the location decisions of multinational firms. Both types of taxation are estimated to have a negative impact on the location of new foreign subsidiaries. In fact, the impact of...
Persistent link: https://www.econbiz.de/10009639913
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Multimarket trading and the cost of debt
Petrasek, Lubomir - 2010
Global bonds are international securities designed to be traded and settled efficiently in multiple markets. This paper studies global bonds to examine the effects of multimarket trading on corporate bond liquidity, prices, and the cost of debt. Using a sample of primary and secondary market...
Persistent link: https://www.econbiz.de/10009640328
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Growth strategies and value creation
Hasan, Iftekhar; Schmiedel, Heiko; Song, Liang - 2010
accrues when the integration is horizontal (cross-border) than when it is vertical (domestic). Additionally, there is evidence … of learning-by-doing effects in stock exchange integration activities. Finally, we find that the better the shareholder …
Persistent link: https://www.econbiz.de/10009640339