performance levels. The capital structure of Austrian SMEs are biased towards debt-financing and stronger equity, growth and …

-specific data from the Bureau of Economic Analysis, we find that firms with high tax-induced foreign cash have approximately 3 ….3 percent higher domestic liabilities relative to other multinationals, equivalent to $152.2 million more domestic debt per firm …, or approximately $98.9-$141.9 billion in aggregate. We next examine motives for firms with tax-induced foreign cash to …

-post performance, we find that issuer firms expand their total assets and fixed assets, and also raise their leverage. …

their leverage …

issuer firms expand their total assets and fixed assets, and also raise their leverage …

leverage faced tighter constraints in accessing bank credit after the COVID-19 outbreak in spring 2020. Specifically, SMEs with … higher pre-COVID leverage obtained a smaller volume of new loans and had to pay a higher spread on them during the pandemic … were not able to substitute to other sources of debt financing and thus experienced more of a reduction in total debt as …