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example, places where bankruptcy resolution is more difficult and/or takes longer) see a greater dependence on "stable" real …
Persistent link: https://www.econbiz.de/10011904686
example, places where bankruptcy resolution is more difficult and/or takes longer) see a greater dependence on “stable” real …
Persistent link: https://www.econbiz.de/10012910165
Recent research says 20 percent of Korean manufacturers are stalled-growth small and medium enterprises (SMEs), or companies that have been business for at least 20 years but have under 50 employees, with market factors causing 65 percent of such stagnation and the businesses themselves 35...
Persistent link: https://www.econbiz.de/10014263146
We propose a unified explanation for two seemingly disparate empirical findings: the negative abnormal returns of distressed stocks, and of small growth stocks. Based on a counterintuitive result relating option prices to jump risk (Merton (1976)), we show via an investment valuation model that...
Persistent link: https://www.econbiz.de/10013007449
We analyze how increased access to financing affects firm total factor productivity (TFP) by exploiting a natural experiment following interstate banking deregulations which increased access to bank financing. We find that firms' TFP increases after their states implement these deregulations....
Persistent link: https://www.econbiz.de/10013034675
What do small firms do when given an income tax cut? We address this question by examining the consequences of a sharp reduction in the corporate income tax rate for small- and micro-profit enterprises (SMPE) in China based on confidential tax returns. Utilizing the gradual increases in the...
Persistent link: https://www.econbiz.de/10013323108
business owners by exploiting bankruptcy flag removals. Following flag removal, self-employed individuals earn and borrow more …
Persistent link: https://www.econbiz.de/10012104568
were developed using bankruptcy data and the models use different statistical methodologies. Disagreements in firm rankings …
Persistent link: https://www.econbiz.de/10011610380
Small businesses, the majority of Spanish firms, rarely file for formal bankruptcy when dealing with financial distress …. This is why business bankruptcy rates in Spain are among the lowest in the world, even during the current economic crisis …. To explain this fact we present the following hypothesis. Filing for bankruptcy in Spain is very costly for both small …
Persistent link: https://www.econbiz.de/10010422287