Showing 1 - 10 of 1,494
Persistent link: https://www.econbiz.de/10011759580
In this paper, the authors examine the aggregate national balance-sheets of non-financial corporations in Australia and the G7 countries with a view to assessing both their financial structure and their financial position. More importantly, the authors investigate whether the financial position...
Persistent link: https://www.econbiz.de/10003462971
We examine quantitatively the extent to which financial distress in the 90s affected Japanese corporate investment. Based on the firm-level data that includes small, unlisted firms, we estimate investment function to measure the impact of financial distress on investment. We find that the...
Persistent link: https://www.econbiz.de/10001763114
This paper studies the effects of changes in uncertainty on optimal leverage and investment in a dynamic firm … optimal leverage and investment dynamics. Financial innovation amplifies the effects of uncertainty shocks …
Persistent link: https://www.econbiz.de/10013109171
-pronged approach to investigate the relationship between corporate leverage and fixed investment spending. The empirical analysis …, robust to a battery of sensitivity checks, confirm corporate leverage is highly vulnerable to disruptions in profitability …
Persistent link: https://www.econbiz.de/10013250075
We study the effects of monetary-policy-induced changes in Tobin's q on corporate investment and capital structure. We develop a theory of the mechanism, provide empirical evidence, evaluate the ability of the quantitative theory to match the evidence, and quantify the relevance for monetary...
Persistent link: https://www.econbiz.de/10013210051
Over the last decades Argentina’s living standards have lost ground relative to other developed and emerging economies. Putting Argentina on a path to stronger, inclusive and job-rich growth requires boosting productivity and strengthening investment through wide-ranging structural reforms....
Persistent link: https://www.econbiz.de/10011823732
-level data from Denmark, this paper argues that the high leverage, which was build up by some firms before the crisis … significant effect of high leverage is present also in subsamples defined by industry, liquidity ratio, and geography. The effect … a separate leverage or 'balance sheet' channel in addition to the effects of other variables conventionally included in …
Persistent link: https://www.econbiz.de/10010531925
faced by corporates between investment and leverage. It also suggests that, should the estimated gap in net revenues …
Persistent link: https://www.econbiz.de/10012312927
countries. Using firm-level data from 2005-2014, we postulate a non-linear corporate leverage-investment relationship and derive … thresholds beyond which leverage has a negative and significant impact on investment. The investment sensitivity of debt …
Persistent link: https://www.econbiz.de/10011719911