We examine the factors that influence public firms' choice between project financing and corporate financing. Using a sample of 15,191 syndicated deals closed between 2000 and 2016, we find that economies of scale, agency costs of debt, and information asymmetry arguments affect the choice of...

I construct an infinite-horizon dynamic stochastic general equilibrium model with a collateral constraint and actual default in equilibrium. Entrepreneurs borrow from households through non-recourse debt contracts backed by capital goods. By taking into account the non-linear payoffs of the...

Finanzmärkte sind zu einem bedeutenden Phänomen der modernen Gesellschaft geworden. Das Buch führt in die Märkte für Kapital ein, vor allem in die Märkte für Wertpapiere, Vermögenspositionen, Zertifikate und Kontrakte.(Verlagstext)