A large body of empirical literature investigates differences in financing structures across firms. Private firms …' financing receives little attention due to the lack of data. Using administrative confidential data on the universe of Canadian … corporate firms, we compare financing relationships for private and public firms. Leverage ratios are lower for public firms and …

the credit supply process. The economy is susceptible to self-fulfilling credit freezes: banks abstain from lending when … they fear that other banks will withhold lending, and the resultant credit contraction impedes economic growth. Capital … credit to the real economy. However, the equilibrium interest rate reveals public information about economic fundamentals and …

We study the effects of diversifying funding sources on the financing conditions for firms. We exploit a regulatory … opportunity for unlisted firms. Using the Italian Credit Register, we investigate the impact of minibond issuance on bank credit … reduce the amount of used bank credit but increase the overall amount of available external funds, pointing to a substitution …

Does a diversification of funding sources affect the financing conditions for firms? To answer this question we study a … regulatory reform which allowed unlisted firms to issue minibonds. Using the Italian Credit Register, we compare new loans … power with banks. Issuer firms also reduce the amount of used bank credit, expand their total and fixed assets, and raise …

We study the effects of the diversification of funding sources on the financing conditions for firms. We exploit a …-based funding opportunity for unlisted firms. Using the Italian Credit Register, we investigate the impact of minibond issuance on … bank credit conditions for issuer firms, both at the firm-bank and firm level. We compare new loans granted to issuer firms …