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Capital injection to banks versus debt relief to households
Yoo, Jinhyuk - 2017
House financing has played a prominent role in advanced economies. In addition, most of the banking crises in advanced economies were associated with boom-bust cycles in house prices. Prominent researchers suggest that more grants for household debt reduction would have provided a significant...
Persistent link: https://www.econbiz.de/10011635333
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Capital injection to banks versus debt relief to households
Yoo, Jinhyuk - 2017
House financing has played a prominent role in advanced economies. In addition, most of the banking crises in advanced economies were associated with boom-bust cycles in house prices. Prominent researchers suggest that more grants for household debt reduction would have provided a significant...
Persistent link: https://www.econbiz.de/10011636008
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Are private equity investors good or evil?
Badunenko, Oleg; Barasinska, Nataliya; Schäfer, Dorothea - 2009
The paper investigates the motives of activity (entry and exit) of Private Equity (PE) investors in European companies. Investment of a PE firm is not viewed unambiguously. First, it is claimed that PE investment is made for the sake of seeking short-term gains by taking control and utilizing...
Persistent link: https://www.econbiz.de/10010291775
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Why prices don't respond sooner to a prospective sovereign debt crisis
Braun, R. Anton; Nakajima, Tomoyuki - 2011
We compare the dynamics of inflation and bond yields leading up to a sovereign debt crisis in settings where asset markets are frictionless to other settings with financial frictions. As compared with the case with frictionless asset markets, an asset market structure with financial frictions...
Persistent link: https://www.econbiz.de/10010292283
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The Determinants of Capital Structure: Some Evidence from Banks
Heider, Florian; Gropp, Reint E. - 2008
This paper documents that standard cross-sectional determinants of firm leverage also apply to the capital structure of …
Persistent link: https://www.econbiz.de/10010298024
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Who is afraid of political risk? Multinational firms and their choice of capital structure
Kesternich, Iris; Schnitzer, Monika - 2009
political risk. We focus on two choice variables, the leverage and the ownership structure of the foreign affiliate, and we … leverage can both increase or decrease, depending on the type of political risk. Using the Microdatabase Direct Investment of …
Persistent link: https://www.econbiz.de/10010298749
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Capital structure decisions in family firms: empirical evidence from a bank-based economy
Ampenberger, Markus; Schmid, Thomas; Achleitner, Ann-Kristin - 2009
) family firms are considered to be the backbone of the economy. We find that family firms have significantly lower leverage … ratios than non-family firms, independent of the definition of leverage applied. Among the three dimensions of a family firm …, management board involvement by the founding family has a consistently negative influence on leverage across all our models. In …
Persistent link: https://www.econbiz.de/10010305690
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Debt deleveraging and business cycles: An agent-based perspective
Raberto, Marco; Teglio, Andrea; Cincotti, Silvano - 2011
The recent financial crises pointed out the central role of public and private debt in modern economies. However, even if debt is a recurring topic in discussions about the current economic situation, economic modelling does not take into account debt as one of the crucial determinants of...
Persistent link: https://www.econbiz.de/10010305980
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A behavioral macroeconomic model with endogenous boom-bust cycles and leverage dynamcis
Scheffknecht, Lukas; Geiger, Felix - 2011
We merge a financial market model with leverage-constrained, heterogeneous agents with a reduced-form version of the … considerably. Furthermore, restricting leverage in a countercyclical fashion limits the magnitude of financial cycles and hence …
Persistent link: https://www.econbiz.de/10010307619
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Loss potential and disclosures related to credit derivatives: A cross-country comparison of corporate bond funds under US and German regulation
Gałkiewicz, Dominika Paula - 2015
This study analyzes the loss potential arising from investments into CDS for a sample of large U.S. and German mutual funds. Further, it investigates whether the comments funds make on CDS use in periodic fund reports are consistent with the disclosed CDS holdings. For several funds in the U.S.,...
Persistent link: https://www.econbiz.de/10011335468