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Overinvestment, leverage and financial system liquidity : a challenging approach
López-de-Foronda, Óscar; López-de-Silanes, Florencio; … - In: Business research quarterly : BRQ 22 (2019) 2, pp. 96-104
's overinvestment. We posit that when external funds are easily available, as in expansionary monetary periods, debt loses its … disciplinary role of debt might become a false friend when money abounds. …
Persistent link: https://www.econbiz.de/10012015933
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Taxation, Bank Leverage, and Financial Crises
De Mooij, Ruud A. - 2013
That most corporate tax systems favor debt over equity finance is now widely recognized as, potentially, amplifying …
Persistent link: https://www.econbiz.de/10013085611
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Debt, Taxes, and Banks
De Mooij, Ruud A. - 2012
Understanding the impact of the asymmetric tax treatment of debt and equity on the capital structures of financial … countries over nine years. On average, the sensitivity of banks? debt choices proves very similar to that of non-financial firms …
Persistent link: https://www.econbiz.de/10013110092
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Foolish Revenge or Shrewd Regulation? Financial-Industry Tax Law Reforms Proposed in the Wake of the Financial Crisis
Page, Richard T. - 2010
the debt held by major financial institutions …
Persistent link: https://www.econbiz.de/10013135154
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Determinants of capital structure of Croatian enterprises before and during the financial crisis
Mostarac, Ena; Petrovic, Suzana - In: UTMS journal of economics / University of Tourism and … 4 (2013) 2, pp. 153-162
This paper analysis capital structure determinants of Croatian enterprises based on a cross-sectional data for pre-recession 2007 and recession 2010 comprising about 10,000 firms. Determinants are selected with reference to the relevant capital structure theories and include asset tangibility,...
Persistent link: https://www.econbiz.de/10009786992
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Impact of financial crises on dynamics of capital structure : evidence from Korean listed companies
Tsoy, Lyubov; Heshmati, Almas - 2017
. The average debt ratio fell significantly, the distance between optimal and observed debt ratios shrank, while the speed … effect on companies' debt ratio and the speed of their adjustment toward optimal leverage. The empirical analysis revealed … that Korean non-financial listed companies on average decreased their debt ratios over the entire study period, with …
Persistent link: https://www.econbiz.de/10011612999
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Internal sources of finance and the great recession
Barnes, Michelle L.; Pancost, N. Aaron - 2010
The rising stockpile of cash as a share of total assets at U.S. firms has intrigued economists since at least the paper of Bates, Kahle, and Stulz (2006), yet there has been relatively little work on where this cash has come from and how it is related to investment performance. We exploit...
Persistent link: https://www.econbiz.de/10008778708
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Evolution of capital structure in East Asia : corporate inertia or endeavours?
Driffield, Nigel L. (contributor);  … - 2008
The present paper examines the capital structure adjustment dynamics of listed non-financial corporations in seven East Asian countries during 1994-2002. Compared to firms in the least affected countries, average leverages were much higher among firms in the worst affected countries while the...
Persistent link: https://www.econbiz.de/10003693700
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Basel III and CEO compensation : a new regulation attempt after the crisis I
Eufinger, C.; Gill, Andrej - 2012 - This version 1. März 2012
taking. In particular, linking the amount of insured debt to the ratio of fixed and performance based salary encourages first …
Persistent link: https://www.econbiz.de/10009664970
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Leveraging and risk taking within the German banking system : evidence from the financial crisis in 2007 and 2008
Schmielewski, Frank - 2012
The present study is centered primarily on determining whether the German banking system is to be characterized by procyclical behavior from 2000 to 2011 and to what extent specific sectors of the German banking system showed significant balance sheet operations to increase their leverage within...
Persistent link: https://www.econbiz.de/10009419529