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Risk taking and interest rates : evidence from decades in the global syndicated loan market
Lee, Seung Jung; Liu, Lucy Qian; Stebunovs, Viktors - 2017
We study how low interest rates in the United States affect risk taking in the market for cross-border corporate loans. Because banks tend to originate these loans with intent to sell to nonbank investors, we examine risk taking by the broad financial system. To the extent that actions of the...
Persistent link: https://www.econbiz.de/10011629893
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The use of exchangeable bonds during the privatization process
Kaźmierczak, Damian; Marszałek, Jakub - In: E-Finanse : finansowy kwartalnik internetowy 9 (2013) 4, pp. 86-95
In our article we present the use of hybrid securities in the privatization process. We show that exchangeable bonds … may be successfully applied during privatization of state companies throughout the world. It may be profitable for many … privatization processes by means of exchangeable bonds i.a. in Germany and in Austria. Most of such operations, e.g. German Deutsche …
Persistent link: https://www.econbiz.de/10010390522
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Regulatory independence and political interference : evidence from EU mixed-ownership utilities’ investment and debt
Cambini, Carlo; Rondi, Laura - 2010 - This draft: 11 May 2010
This paper examines the investment and financial decisions of a sample of 92 EU regulated utilities, taking into account key institutional features of EU public utilities, such as: a) regulation by agencies with various degrees of independence; b) partial ownership of the state in the regulated...
Persistent link: https://www.econbiz.de/10008729094
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Network Utilities in the U.S. - Sector Reforms Without Privatization
Vogelsang, Ingo - 2021
U.S. network industry reforms led other countries in the past, but have recently run into difficulties in specific areas. In particular, the U.S. telecommunications sector was hit by a deep crisis and electricity reforms suffered under the California disaster. Part of the explanation for these...
Persistent link: https://www.econbiz.de/10013319434
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Private company finance and financial reporting
Hope, Ole-Kristian; Vyas, Dushyantkumar - 2017
This article provides a comprehensive assessment of private firms' financing sources and their relation with financial reporting practices. We consider debt financing (bank financing, leasing, and government guarantees), equity financing (family ownership, government ownership, employee...
Persistent link: https://www.econbiz.de/10011646298
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Private company finance and financial reporting
Hope, Ole-Kristian; Yvas, Dushyantkumar - 2017
This article provides a comprehensive assessment of private firms' financing sources and their relation with financial reporting practices. We consider debt financing (bank financing, leasing, and government guarantees), equity financing (family ownership, government ownership, employee...
Persistent link: https://www.econbiz.de/10011646418
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Privatization in the United States
Shleifer, Andrei; Lopez de Silanes, Florencio; Vishny, … - 1997
government employees and contracting out to private suppliers, also known as privatization. We examine empirically how U … restricting county spending encourage privatization, whereas strong public unions discourage it. This points to the important … roles played by political patronage and taxpayer resistance to government spending in the privatization decision …
Persistent link: https://www.econbiz.de/10014060134
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EU and U.S. Solutions to Systemic Risk and Their Potential Influence on a World Trade Organization Approach
Austrin-Willis, Benjamin - 2013
As the 2008 financial crisis spread globally, it became widely apparent that an essential ingredient to preventing future systemic crises was reform of the regulation of financial markets. Two ambitious initiatives for regulatory reform are the European Union's European System of Financial...
Persistent link: https://www.econbiz.de/10014186176
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Foreign acquisition and credit risk : evidence from the U.S. CDS market
Yilmaz, Umit - 2016 - This draft: May 31, 2016
This paper empirically analyses the effect of foreign block acquisitions on the U.S. target firms' credit risk as captured by their CDS. The involvement of foreign investors leads to a significant increase in the target firms' CDS spreads. This effect is stronger when foreign owners are...
Persistent link: https://www.econbiz.de/10011519062
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Contagion Effects of the U.S. Subprime Crisis on International Stock Markets
Hwang, Inchang - 2010
This paper examines the contagion effects of the U.S. subprime crisis on international stock markets using a DCC-GARCH model on 38 country data. We find evidence of financial contagion not only in emerging markets but also in developed markets during the U.S. subprime crisis. We also find...
Persistent link: https://www.econbiz.de/10013149007