This paper documents a set of new stylized facts about leverage and financial fragility for emerging market firms following the Global Financial Crisis (GFC). Corporate debt vulnerability indicators during the Asian Financial Crisis (AFC) attributed to corporate financial roots provide a...

This paper documents a set of stylized facts about leverage and financial fragility in the non-financial corporate sector in emerging markets since the Global Financial Crisis (GFC). Corporate debt vulnerability indicators prior to the Asian Financial Crisis (AFC) attributed to corporate...

Objective – This paper shows how leverage affects firm's fragility and financial soundness during financial and industry crises.Methodology/Technique – Long term inefficient and zombie firms are explored through the effects of leverage in additional tests.Findings – There are two main...

This paper documents a set of new stylized facts about leverage and financial fragility for emerging market firms following the Global Financial Crisis (GFC). Corporate debt vulnerability indicators during the Asian Financial Crisis (AFC) attributed to corporate financial roots provide a...

In Silicon Valley, the most important thing to think about when starting a company is how you're going to end it. The venture capital funding model that dominates the tech industry is focused on the “exit strategy” — the ways funders and founders can cash out their investment. While in...