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Do business groups affect corporate cash holdings? : evidence from a transition economy

Cai, Weixing; Zeng, Cheng; Lee, Edward; Ozkan, Neslihan - In: China journal of accounting research : CJAR 9 (2016) 1, pp. 1-24

We examine whether business groups’ influence on cash holdings depends on ownership. Group affiliation can increase firms’ agency costs or benefit firms by providing an internal capital market, especially in transition economies characterized by weak investor protection and difficult...

Persistent link: https://www.econbiz.de/10011844586

Pushing on a string : state-owned enterprises and monetary policy transmission in China

Chen, Hongyi; Li, Ran; Tillmann, Peter - 2018 - This version: February 06, 2018

This paper studies whether monetary transmission in China is asymmetric. While researchers found an asymmetric … transmission in the U.S. and other economies, China offers a specific rationale for asymmetries: the presence of state … provide evidence of a systematic and sizable asymmetry in the transmission of monetary policy shocks in China. The nature of …

Persistent link: https://www.econbiz.de/10011803747

Securitization, Deregulation, Economic Stability, And Financial Crisis, Part II - Deregulation, the Financial Crisis, and Policy Implications

Tymoigne, Eric - 2009

This study analyzes the trends in the financial sector over the past 30 years, and argues that unsupervised financial innovations and lenient government regulation are at the root of the current financial crisis and recession. Combined with a long period of economic expansion during which...

Persistent link: https://www.econbiz.de/10013156908

Wie krisenfest ist die Verschuldung des Privatsektors im Euroraum? : Entwicklung und Struktur der privaten Verschuldung seit Krisenausbruch und ihre wirtschaftspolitischen Implikat...

Rupprecht, Manuel; Wohlmann, Monika - In: Vierteljahrshefte zur Wirtschaftsforschung 88 (2019) 4, pp. 115-131

Zu hohe Schulden der privaten Haushalte und Unternehmen haben maßgeblich zum Ausbruch und Verlauf der Finanzkrise beigetragen. Um eine Wiederholung zu vermeiden, wird die private Verschuldung inzwischen überwacht. Betrachtet wird dabei primär die Schuldenhöhe. Ihre Struktur (d. h....

Persistent link: https://www.econbiz.de/10012155297

How Important is Social Trust During the COVID-19 Crisis Period? Evidence from the Fed Announcements

Mazumder, Sharif - 2020

During the COVID-19 crisis period, firms headquartered in high social trust US states perform better than their counterparts from the low social trust states. Stock returns over the crisis period are 3 to 4 percentage points higher, on average, if social trust increases by one standard...

Persistent link: https://www.econbiz.de/10012823911

Connected Lending of Last Resort

Mitchener, Kris; Monnet, Eric - National Bureau of Economic Research - 2023

Because of secrecy, little is known about the political economy of central bank lending. Utilizing a novel, hand-collected historical daily dataset on loans to commercial banks, we analyze how personal connections matter for lending of last resort, highlighting the importance of governance for...

Persistent link: https://www.econbiz.de/10013537763

Connected lending of last resort

Mitchener, Kris; Monnet, Eric - 2023

Persistent link: https://www.econbiz.de/10013494187

Monetary Policy in the Euro Area : The Impact of Inflation Expectations

Koch, Dr. Benjamin - 2023

Following a period of subdued consumer price changes, inflation has recently surged to levels that are significantly impacting the behavior of households and firms. Although the underlying sources of inflation differ across major advanced economies, central banks have progressively tightened...

Persistent link: https://www.econbiz.de/10014351176

What Explain Credit Defaults? A Comparative Study

Daly, Kevin - 2010

The paper argues that although key improvements in credit risk modelling have been made - motivated by Basel-II capital adequacy standard - yet the current turmoil in the global credit markets couldn't be forecasted and subsequently avoided. The aim of the study is to investigate the cyclical...

Persistent link: https://www.econbiz.de/10013139085

The Dangerous Utopia of the ECB's Cancellation of Public Debts

Pichet, Eric - 2020

The main result of the quick reactions of the Federal Reserve (the Fed) and the European Central Bank (ECB) to the Covid-19 crisis are that more than 20% of their public debt is now held by these central banks and that the balance sheet of the ECB is now near 50% of GDP (33% for the Fed). Two...

Persistent link: https://www.econbiz.de/10012826475

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