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highlights future investment and financing challenges, especially for road transport. The methodology piloted in this study can …
Persistent link: https://www.econbiz.de/10012422659
We investigate the cost of capital in a model with an agency conflict between inside managers and outside shareholders. Inside ownership reflects the classic tradeoff between incentives and risk diversification, and the severity of agency costs depends on a parameter representing investor...
Persistent link: https://www.econbiz.de/10011623466
We investigate the cost of capital in a model with an agency conflict between inside managers and outside shareholders. Inside ownership reflects the classic tradeoff between incentives and risk diversification, and the severity of agency costs depends on a parameter representing investor...
Persistent link: https://www.econbiz.de/10011506547
We investigate the cost of capital in a model with an agency conflict between inside managers and outside shareholders. Inside ownership reflects the classic tradeoff between incentives and risk diversification, and the severity of agency costs depends on a parameter representing investor...
Persistent link: https://www.econbiz.de/10013136994
firm investments, proxied by total, short- and long-term investment. The results remain robust when we control for the … shift their investment from long- to short-term investment, given their unaffected credit ratings after undesirable … sovereign rating events. Conversely, firms’ investment is unaltered by the sovereign upgrades. Our findings also confirm that …
Persistent link: https://www.econbiz.de/10013491626
Persistent link: https://www.econbiz.de/10001672876
This paper examines whether the investment of Korean business group ("chaebol") affiliated firms behaved differently … from that of non-chaebol firms in response to the COVID-19 outbreak. I show that chaebol firms cut back investment to a … investment and values …
Persistent link: https://www.econbiz.de/10013219382
lender distress affected firm-level investment outcomes after the crisis. In specifications that compare firms in the same …
Persistent link: https://www.econbiz.de/10013097226
corporate investment. We show that in a sample of publicly listed firms in 10 advanced and emerging markets economies during the … period 1990–2013, bank systemic risk is positively associated with the corporate investment, after controlling for a large … corporate investment varies, depending on firm size and growth opportunities …
Persistent link: https://www.econbiz.de/10012971426
trace out firms' investment and growth trajectories in response to a credit supply shock. Financially shocked firms exhibit … a temporary investment gap for two years, resulting in a persistent accumulated growth gap six years after the crisis …. Shocked firms with rigid wages exhibit a significantly steeper drop in investment and an additional long-run growth gap …
Persistent link: https://www.econbiz.de/10014355009