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The Reasons for the Divergence of IPO Lockup Agreements

Gao, Fei - 2010

for a specified period of time following the IPO. However, some IPO firms agree to have a much longer lockup period than … other IPO firms, and some are willing to lockup a much larger proportion of shares. Thus, the primary research question for … agency theory. This study uses methods that have not been applied by previous studies in the literature relating to IPO …

Persistent link: https://www.econbiz.de/10009474999

Macroeconomics, firm dynamics and IPOs

González, Beatriz - 2020

facing different financial frictions, and the decision to become publicly traded (Initial Public Offering, or IPO) is …. They finance investment with internal resources and debt and have the choice to go public (IPO). The main trade-off is … access to external equity financing, at a one-off cost of IPO and an increased cost of operation. The calibrated model is …

Persistent link: https://www.econbiz.de/10012525220

Macroeconomics without the LM: A Post-Keynesian Perspective

Palley, Thomas - 2008

Romer (2000) provides an alternative model to the AS/AD and IS/LM models that abandons the LM schedule by having the short-term interest rate set by the central bank. His framework acknowledges the critical role of the central bank in determining short-term interest rates, which moves mainstream...

Persistent link: https://www.econbiz.de/10009467791

Turkey: macro-financial situation

Berganza, Juan Carlos; Sánchez Pastor, Paula; Lara …

Artículo de revista ; As in other countries, the effect of the pandemic and the global recession on the Turkish economy was mitigated by the fiscal, financial and monetary support implemented by the country’s authorities. In fact, Turkey was one of the few economies of significant size to...

Persistent link: https://www.econbiz.de/10012525887

Empirical analysis of corporate credit lines

Jiménez Zambrano, Gabriel; López, José A.; Saurina … - 2008

Since bank credit lines are a major source of corporate funding, we examine the determinants of credit line usage with a comprehensive database of Spanish corporate credit lines. A line’s default status is a key factor driving its usage, which increases as a firm’s financial condition...

Persistent link: https://www.econbiz.de/10012530215

The recent slowdown of bank lending in Spain : are supply-side factors relevant?

Hernando Castellet, Ignacio; Villanueva López, Ernesto - 2012

Using information of the balance sheets of Spanish banks between 1995 and 2009, we estimate the average impact of current and anticipated changes in banks’ capital on fi rm lending. We isolate the role of credit supply factors using the variation in capital growth associated to the...

Persistent link: https://www.econbiz.de/10012530235

No bank, one bank, several banks : does it matter for investment?

Karaivanov, Alexander; Ruano Pardo, Sonia; Saurina … - 2010

This paper examines whether financial constraints affect firms’ investment decisions for older (larger) firms. We compare a group of unbanked firms to firms that rely on formal financing. Specifically, we combine data from the Spanish Mercantile Registry and the Bank of Spain Credit Registry...

Persistent link: https://www.econbiz.de/10012530292

Did the bank capital relief induced by the supporting factor enhance SME lending?

Mayordomo Gómez, Sergio; Rodríguez Moreno, María - 2017

Este trabajo ha recibido el primer Premio Federico Prades para jóvenes economistas de la Fundación AEB (Asociación Española de Banca) ; La introducción del factor de soporte del crédito a las pequeñas y medianas empresas (pymes) —conocido como SME SF, por sus siglas en inglés—...

Persistent link: https://www.econbiz.de/10012530588

Turkey: macro-financial situation

Sánchez Pastor, Paula

Artículo de revista ; In 2021, the Turkish economy continued to be highly influenced by the course of the COVID-19 pandemic. Turkey has been more dynamic than other emerging economies since the start of the pandemic, but faces a number of macro-financial challenges as a result of imbalances...

Persistent link: https://www.econbiz.de/10012662458

The effect of TLTRO III on Spanish credit institutions´ balance sheets

Castillo Lozoya, María del Carmen; Esteban …

Artículo de revista ; With the onset of the COVID-19 crisis, the ECB’s Governing Council modified the conditions of the TLTRO III, aiming to facilitate the flow of bank credit to the real economy. The new conditions encouraged an unprecedented level of take-up of the Eurosystem’s...

Persistent link: https://www.econbiz.de/10013199059