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Bank Loans as a Financial Discipline: A Direct Agency Cost of Equity Perspective
Hijazi, Bassem - 2006
' line of credit, the bank/lender is actually confirming that the borrower has a low level of information asymmetry and …
Persistent link: https://www.econbiz.de/10009475079
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The role of bank loans and deposits in the monetary transmission mechanism in Malaysia
Kassim, Salina; Majid, M. Shabri A. - 2009
This study attempts to determine the importance of the banking sector in the monetary transmission process in a developing economy. The study analyzes the Malaysian data focusing on three sample periods: the entire sample period (1989:01-2006:12); the pre-crisis period (1989:01-1996:12); and the...
Persistent link: https://www.econbiz.de/10009441819
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Information, Credit Risk, Lender Specialization and Loan Pricing: Evidence from the DIP Financing Market
Daniels, Kenneth; Ramirez, Gabriel G - 2008
determinants of lending specialization (e.g. lender choice). We find that the choice of lender is not driven by credit risk, but by …
Persistent link: https://www.econbiz.de/10009459020
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The Corporate Choice between Public Debt, Bank Loans, Traditional Private Debt Placements, and 144A Debt Issues
Arena, Matteo - 2010
debt have significantly lower credit quality and higher information asymmetry than firms that issue traditional non … debt source for firms with good credit quality. I also show that the firm characteristics of traditional private debt … which is conditional on credit quality. High credit quality firms prefer public bond offerings and small firms, with good …
Persistent link: https://www.econbiz.de/10009484536
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The China syndrome affects banks : the credit supply channel of foreign import competition
Mayordomo Gómez, Sergio; Rachedi, Omar - 2019
rising Chinese import competition in the early 2000s on banks’ credit supply policies. Using bank-firm-level data on the … firms competing with Chinese imports. Exposed banks rebalanced their loan portfolios by cutting the supply of credit to …
Persistent link: https://www.econbiz.de/10012532211
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Recent economic performance of Spanish SMEs and developments in their access to external financing according to the European Central Bank's half-yearly Survey
Menéndez, Álvaro; Mulino, Maristela
Artículo de revista ; The latest SAFE results show that the activity of Spanish SMEs continued to grow in the period from October 2021 to March 2022, albeit at a slower pace than six months earlier. The rise in costs prompted a deterioration in profits for most of these firms. Access to...
Persistent link: https://www.econbiz.de/10013284801
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Recent economic performance of Spanish SMEs and developments in their access to external financing according to the ECB’s half-yearly survey
Menéndez Pujadas, Álvaro; Mulino Ríos, Maristela A.
Rationale: In recent years the Spanish business sector has experienced unprecedented shocks: the onset of the pandemic, supply chain bottlenecks and escalating commodity prices. In this setting, it is important to assess the sector’s economic and financial situation. Takeaways •Between April...
Persistent link: https://www.econbiz.de/10013494487
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Trend and Cycles in Coal and Oil Prices in the Long Run: A Schumpeterian Approach
Bloch, Harry; Sapsford, D. - 2011
We contribute to the task of identifying trends and cycles in energy prices by examining very long series of prices for coal and oil, going back to 1650 in the case of coal and 1859 in the case of oil. We find annual rates of increase in real price of greater than two percent are found for coal...
Persistent link: https://www.econbiz.de/10009435028
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The Welfare Cost of Business Cycles Revisited: Finite Lives and Cyclical Variation in Idiosyncratic Risk
Storesletten, Kjetil; Telmer, Chris I; Yaron, Amir - 2000
This paper investigates the welfare costs of business cycles in a heterogeneous agent, overlapping generations economy which is distinguished by idiosyncratic labor market risk. Aggregate variation arises both in terms of aggregate productivity shocks and countercyclical variation in the...
Persistent link: https://www.econbiz.de/10009441157
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America's First Great Moderation
Shaffer, Ryan - 2011
This paper identifies America's first Great Moderation, a period from 1841-1856 of unbroken economic expansion and low volatility comparable to the Great Moderation of the 1980s-2000s. This moderation occurred despite a lack of central banks, low governmental spending, and barriers to interstate...
Persistent link: https://www.econbiz.de/10009468758