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The Relation between Corporate and Government Debt Maturity in Europe
Lugo, Stefano - 2020
This paper investigates the gap-filling explanation for corporate debt maturity choices in a multi-country setting. We argue that companies adjust their debt maturity in response to shocks in government debt maturity both at home and abroad; the difference between the two effects depends on the...
Persistent link: https://www.econbiz.de/10012854834
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The Determinants of Long-Term Debt Issuance by European Banks : Evidence of Two Crises
Rixtel, Adrian Van - 2015
This paper is one of the first to investigate the determinants of bond issuance by European banks. We use a unique database of around 50,000 bonds issued by 63 banks from 14 European countries, allowing us to differentiate between different types of long-term debt securities. By investigating at...
Persistent link: https://www.econbiz.de/10013014489
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The Determinants of Long-Term Debt Issuance by European Banks : Evidence of Two Crises
Rixtel, Adrian Van - 2016
This paper is one of the first to investigate the determinants of bond issuance by European banks. We use a unique database of around 50,000 bonds issued by 63 banks from 14 European countries to test explicitly a broad set of hypotheses on the drivers of bond issuance. The sample covers the two...
Persistent link: https://www.econbiz.de/10012981753
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Financial frictions and corporate investment in bad times : who cut back most?
Bruno, Brunella; D'Onofrio, Alexandra; Marino, Immacolata - 2017
Persistent link: https://www.econbiz.de/10011671469
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Access to Bank Financing and New Investment : Evidence from Europe
Chavis, Larry W. - 2012
In this paper we study the relationship between firm age, the use of external finance and new investment decisions, in …, suggesting that greater financial development and a stronger investment climate offers young firms greater access to bank … firms that report a need for credit, but did not apply for a loan, have the lowest incidence and amount of investment. Our …
Persistent link: https://www.econbiz.de/10013115696
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Sovereign risk, elections, and contagion
Li, Chi; Balding, Christopher; Lee, Minsoo - 2013
This paper aims to quantify the political risk effect and its different economic implications in normal and crisis situations through the proxy analysis of election and the sovereign bond spreads. Our study leads to three main findings. First, in normal economic situations, elections and...
Persistent link: https://www.econbiz.de/10009781196
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Measuring sovereign contagion in Europe
Caporin, Massimiliano; Pelizzon, Loriana; Ravazzolo, … - 2015
This paper analyzes sovereign risk shift-contagion, i.e. positive and significant changes in the propagation mechanisms, using bond yield spreads for the major eurozone countries. By emphasizing the use of two econometric approaches based on quantile regressions (standard quantile regression and...
Persistent link: https://www.econbiz.de/10010527055
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Coping with Financial Crises : Latin American Answers to European Questions
Cavallo, Eduardo A. - 2013
Europe faces challenges reminiscent of Latin American financial crises. The failure of recent liquidity support to normalize the situation in Europe suggests the need to refocus the policy debate on fundamentals: structural reform for growth and, where needed, restructuring to resolve banking...
Persistent link: https://www.econbiz.de/10013086642
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Measuring Sovereign Contagion in Europe
Caporin, Massimiliano - 2014
This paper analyzes the sovereign risk contagion using credit default swaps (CDS) and bond premiums for the major eurozone countries. By emphasizing several econometric approaches (nonlinear regression, quantile regression and Bayesian quantile regression with heteroskedasticity) we show that...
Persistent link: https://www.econbiz.de/10013066384
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Asian and European Financial Crises Compared
Truman, Edwin M. - 2013
The European and Asian financial crises are the two most recent major regional crises. This paper compares their origins and evolution. The origins of the two sets of crises were different in some respects, but broadly similar. The two sets of crises also shared similarities in their evolution,...
Persistent link: https://www.econbiz.de/10013074003