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Liquidity Trap and Excessive Leverage
Korinek, Anton; Şimşek, Alp - 2014
-ante leverage and insurance decisions are associated with aggregate demand externalities. The competitive equilibrium allocation is … policy in addressing excessive leverage, and it can even have the unintended consequence of increasing leverage. …
Persistent link: https://www.econbiz.de/10010500275
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Liquidity trap and excessive leverage
Korinek, Anton; Şimşek, Alp - 2014
-ante leverage and insurance decisions are associated with aggregate demand externalities. The competitive equilibrium allocation is … policy in addressing excessive leverage, and it can even have the unintended consequence of increasing leverage. …
Persistent link: https://www.econbiz.de/10010255368
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The impact of thin-capitalization rules on multinationals' financing and investment decisions
Büttner, Thiess; Overesch, Michael; Schreiber, Ulrich; … - 2008
This paper analyzes the effectiveness of thin-capitalization rules in preventing debt finance by intercompany loans and explores their consequences for corporate decisions. A theoretical discussion emphasizes that limitations of the deduction of interest owed to foreign affiliates would not only...
Persistent link: https://www.econbiz.de/10010295875
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The Determinants of Capital Structure: Some Evidence from Banks
Heider, Florian; Gropp, Reint E. - 2008
This paper documents that standard cross-sectional determinants of firm leverage also apply to the capital structure of …
Persistent link: https://www.econbiz.de/10010298024
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Who is afraid of political risk? Multinational firms and their choice of capital structure
Kesternich, Iris; Schnitzer, Monika - 2009
political risk. We focus on two choice variables, the leverage and the ownership structure of the foreign affiliate, and we … leverage can both increase or decrease, depending on the type of political risk. Using the Microdatabase Direct Investment of …
Persistent link: https://www.econbiz.de/10010298749
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Capital structure decisions in family firms: empirical evidence from a bank-based economy
Ampenberger, Markus; Schmid, Thomas; Achleitner, Ann-Kristin - 2009
) family firms are considered to be the backbone of the economy. We find that family firms have significantly lower leverage … ratios than non-family firms, independent of the definition of leverage applied. Among the three dimensions of a family firm …, management board involvement by the founding family has a consistently negative influence on leverage across all our models. In …
Persistent link: https://www.econbiz.de/10010305690
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Debt deleveraging and business cycles: An agent-based perspective
Raberto, Marco; Teglio, Andrea; Cincotti, Silvano - 2011
The recent financial crises pointed out the central role of public and private debt in modern economies. However, even if debt is a recurring topic in discussions about the current economic situation, economic modelling does not take into account debt as one of the crucial determinants of...
Persistent link: https://www.econbiz.de/10010305980
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Determinants of the development of corporate bond markets in Argentina: Survey to firms and investors
Alegre, María; Pernice, Sergio; Streb, Jorge M. - 2007
Conventional theory leads to expect bonds to be a financing vehicle for large firms because of economies of scale and contracting costs. In this paper we present the results for Argentina of a survey of firms and of investors on the use of corporate bonds. The result of these surveys supports...
Persistent link: https://www.econbiz.de/10010323278
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The corporate debt market: A firm-level panel study for India
Guha-Khasnobis, Basudeb; Kar, Saibal - 2006
Traditionally, firms in India have shown a low preference towards debt financing, despite its advantages. Using panel data from 450 firms during 1992-93 and 2003-04, we attempt to identify factors which could explain the pattern of financing of manufacturing firms in India and the key...
Persistent link: https://www.econbiz.de/10010331078
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The determinants of bank capital structure
Gropp, Reint E.; Heider, Florian - 2009
of non-financial firms’ leverage carry over to banks, except for banks whose capital ratio is close to the regulatory … important determinant of banks’ capital structures and that banks’ leverage converges to bank specific, time invariant targets. …
Persistent link: https://www.econbiz.de/10011605142