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We identify a novel channel through which financial constraints propagate in the production chain. Exploiting recent developments on production network data of US-listed firms, we show that firms experience greater valuation losses during industry downturns when their suppliers are financially...
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bank lending is consistently associated with positive long-term outcomes-newly public firms that borrow experience …
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This paper investigates empirically the relationship between stock market and banking sector development with data from 40 countries (representing 85% of global GDP) over a period of 53 years. When measured by ratios of stock market (i) capitalization to GDP; (ii) turnover to GDP; and (iii)...
Persistent link: https://www.econbiz.de/10012965090
that the market reacts positively to NPL sales and that this reaction is more pronounced when the selling bank has better …
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on the division of economic gains in takeovers. Empirical tests exploit interstate bank branching deregulation, which … a result of interstate bank branching deregulation. Relaxing financial constraints on private targets leads to an …
Persistent link: https://www.econbiz.de/10012997018
This paper attempts to investigate the impact of credit information sharing on bank-specific stock price crash risk …
Persistent link: https://www.econbiz.de/10012926760
and interest rates for minority applicants decrease after a bank goes public, which remains robust to using a plausibly … preferences or increased information disclosure after a bank goes public. Rather, the results are driven by the attenuation of …
Persistent link: https://www.econbiz.de/10012862103