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Purpose The ownership structure in Japanese firms has experienced a significant change recently, fueled primarily by regulatory changes. This has important repercussions on corporate performance and risk. This paper examines the impact of insider ownership on the default risk of Japanese firms....
Persistent link: https://www.econbiz.de/10014636984
We estimate the impact of the COVID-19 crisis on business failures among small and medium-size enterprises (SMEs) in seventeen countries using a large representative firm-level database. We use a simple model of firm cost minimization and measure each firm’s liquidity shortfall during and...
Persistent link: https://www.econbiz.de/10013232582
We estimate the impact of the COVID-19 crisis on business failures among small and medium-size enterprises (SMEs) in seventeen countries using a large representative firm-level database. We use a simple model of firm cost minimization and measure each firm's liquidity shortfall during and after...
Persistent link: https://www.econbiz.de/10012392364
Persistent link: https://www.econbiz.de/10003070789
Persistent link: https://www.econbiz.de/10003780314
This paper examines how collateral and personal guarantees affect firms' ex-post performance employing a propensity …-and-medium-sized borrower firms in Japan, we find that borrowers that provide collateral to lenders experience larger increases in profitability … and reductions in riskiness than borrowers that do not. This finding is consistent with the hypothesis that collateral …
Persistent link: https://www.econbiz.de/10013095220
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