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We examine the impact of local racial demonstrations, such as Black Lives Matter (BLM) protests, and the subsequent racial justice movement following the death of George Floyd on racial disparities in Paycheck Protection Program loan disbursements to small businesses. Using...
Persistent link: https://www.econbiz.de/10014544755
Persistent link: https://www.econbiz.de/10003684365
We show that firms intermediating trade have incentives to overinvest in financial expertise, and that these investments can be destabilizing. Financial expertise in our model improves firms' ability to accurately estimate value when trading a security. It creates adverse selection, which under...
Persistent link: https://www.econbiz.de/10003955258
I discuss Minnis (2011) in the context of the broader literature on private firm financing. In particular, I focus on the unique features of the private firm setting and how it affects research design and inference. I detail the alternative information sources available to debt financiers of...
Persistent link: https://www.econbiz.de/10013130517
I examine how verification of financial statements influences debt pricing. I use a large proprietary database of privately-held U.S. firms, an important business sector in which the information environment is opaque and financial statement audits are not mandated. I find that audited firms have...
Persistent link: https://www.econbiz.de/10013130727
I discuss Minnis [2010] in the context of the broader literature on private firm financing. In particular, I focus on the unique features of the private firm setting and how it affects research design and inference. I detail the alternative information sources available to debt financiers of...
Persistent link: https://www.econbiz.de/10013131019
U.S. business investment has taken a serious toll during the global financial crisis and also in the recovery phase investment did not pick up as expected. What is surprising is that the alleged investment slowdown happened at a time of record corporate profits and retained earnings, highly...
Persistent link: https://www.econbiz.de/10012913931
covariates to differ across the various entrepreneurial engagement levels. Data from two Entrepreneurship Flash Eurobarometer …
Persistent link: https://www.econbiz.de/10011280360
through these stages. Data are used from the 2007 “Flash Eurobarometer Survey on Entrepreneurship”, covering 27 European …
Persistent link: https://www.econbiz.de/10011378847
deemed to be of particular importance for entrepreneurship, innovation-based firm growth and its ensuing impact on the … economy. Particular aspects of entrepreneurship and economic dynamism are covered by pairs (or in one case three) coauthors …, considerable differences remain. These constitute the basis for the concluding policy discussion. -- Entrepreneurship ; Innovation …
Persistent link: https://www.econbiz.de/10009666645