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Aggregate risk and the choice between cash and lines of credit
Acharya, Viral V.; Almeida, Heitor; Campello, Murillo - 2010
"We argue that a firm's aggregate risk is a key determinant of whether it manages its future liquidity needs through cash reserves or bank lines of credit. Banks create liquidity for firms by pooling their idiosyncratic risks. As a result, firms with high aggregate risk find it costly to get...
Persistent link: https://www.econbiz.de/10003983591
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Aggregate risk and the choice between cash andn lines of credit
Acharya, Viral V.; Almeida, Heitor; Campello, Murillo - 2012
Persistent link: https://www.econbiz.de/10009526530
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Repo and securities lending
Adrian, Tobias; Begalle, Brian; Copeland, Adam; Martin, … - 2011
We provide an overview of the data requirements necessary to monitor repurchase agreements (repos) and securities lending markets for the purposes of informing policymakers and researchers about firm-level and systemic risk. We start by explaining the functioning of these markets, then argue...
Persistent link: https://www.econbiz.de/10009411379
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Business complexity and risk management : evidence from operational risk events in U.S. bank holding companies
Chernobai, Anna; Ozdagli, Ali; Wang, Jianlin - 2016 - This version: October 2016
How does business complexity affect risk management in financial institutions? The commonly used risk measures rely on either balance-sheet or market-based information, both of which may suffer from identification problems when it comes to answering this question. Balance-sheet measures, such as...
Persistent link: https://www.econbiz.de/10011562964
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Choosing the type of income-contingent loan : risk-sharing versus risk-pooling
Del Rey, Elena; Racionero, Maria del Mar - 2014
Persistent link: https://www.econbiz.de/10010357626
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How and why do small firms manage interest rate risk? : evidence from commercial loans
Vickery, James (contributor) - 2005 - Rev. September 2006
finance shrinks during periods of rising interest rates. Banks originate a higher share of adjustable-rate loans than other …
Persistent link: https://www.econbiz.de/10003090902
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The loan puzzle : a study of loans to different groups in the USA.
Cafiso, Gianluca - 2020
We study loans from banking and non-banking lenders to different groups of borrowers in order to unveil significant differences on how those respond to a shock and evaluate possible alternative explanations for such differences. The objective is to gain insights useful to explain the loan...
Persistent link: https://www.econbiz.de/10012194423
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Should derivatives be privileged in bankruptcy?
Bolton, Patrick; Oehmke, Martin - 2011
stay on debt and collateral collection that applies to virtually all other claims. We propose a simple corporate finance …
Persistent link: https://www.econbiz.de/10009408758
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Managing credit risk and improving access to finance in green energy projects
Dhruba, Purkayastha - 2018
The cost of finance has a relatively high impact on the returns and viability of clean energy projects compared with … assessment and ratings, which have usually been an inappropriate measure of credit risk for clean energy finance, have a … significant influence on the cost of finance. Factors like inadequate credit information, a lack of historical data at the project …
Persistent link: https://www.econbiz.de/10011881765
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Trade creditors' information advantage
Ivashina, Victoria; Iverson, Benjamin - 2018
Persistent link: https://www.econbiz.de/10011800004