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What firms don't like about bank loans : new evidence from survey data
Kolev, Atanas; Maurin, Laurent; Ségol, Matthieu - 2019
We use the association between non-financial firms and their banks, an information available in the European Investment Bank Investment Survey (EIBIS), to disentangle the effects of borrowers' and lenders' financial weakness on the satisfaction with the loan contracted. The dataset matches...
Persistent link: https://www.econbiz.de/10012098322
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The impact of bank loan terms on intangible investment in Europe
Segol, Matthieu; Kolev, Atanas; Maurin, Laurent - 2021
Firm investment, Intangible assets, Loan terms, Credit constraint, Survey data, Instrumental variable approachUsing …
Persistent link: https://www.econbiz.de/10012520775
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Synthetic leverage and fund risk-taking
Fricke, Daniel - 2021
Mutual fund risk-taking via active portfolio rebalancing varies both in the crosssection and over time. In this paper, I show that the same is true for funds' off- balance sheet risk-taking, even after controlling for on-balance sheet activities. For this purpose, I propose a novel measure of...
Persistent link: https://www.econbiz.de/10012622826
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Syndicated loans and CDS positioning
Aldasoro, Iñaki; Barth, Andreas - 2017
-dealers when they are more profitable. These results allow for a better understanding of banks' credit risk management. …
Persistent link: https://www.econbiz.de/10011978351
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Lending standards and output growth
Kirti, Divya - 2018
While some credit booms are followed by economic underperformance, many are not. Can lending standards help separate … good credit booms from bad credit booms contemporaneously? To observe lending standards internationally, I use information … HY share is procyclical, suggesting that lending standards in bond markets are extrapolative. Credit booms with …
Persistent link: https://www.econbiz.de/10011978753
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Macro-based asset allocation : an empirical analysis
Kollar, Miroslav; Schmieder, Christian - 2020
Macro-based asset allocation, i.e., the identification of turning points in macro-financial cycles and the allocation of assets accordingly, has attracted a lot of interest in recent years. This interest was sparked by volatile financial markets, more synchronized returns across asset classes...
Persistent link: https://www.econbiz.de/10012152009
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Life-cycle risk-taking with personal disaster risk
Bagliano, Fabio C.; Fugazza, Carolina; Nicodano, Giovanna - 2021
This paper examines households' self-insurance in financial markets when a rare personal disaster, such as disability or long-term unemployment, may occur during working years. Personal disaster risk alters lifetime ex-ante investment choices, even if most workers will not experience a disaster....
Persistent link: https://www.econbiz.de/10012793436
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Investment gaps after the crisis
Lewis, Christine; Pain, Nigel; Strasky, Jan; Menkyna, Fusako - 2014
The downturn in fixed investment among advanced economies from the onset of the global crisis was unusually severe, widespread and long-lasting relative to comparable episodes in the past. As a result, investment gaps are large in many countries, not only in relation to past norms but also...
Persistent link: https://www.econbiz.de/10010464901
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Productivity and finance : the intangible assets channel : a firm level analysis
Demmou, Lilas; Franco, Guido; Stefanescu, Irina - 2020
Using a cross-country firm level panel dataset from 1995 to 2015, this paper revisits the finance–productivity nexus by looking at the role of intangible assets. It argues that due to their specific characteristics, such as valuation uncertainty and lower pledgeability, financing the purchase...
Persistent link: https://www.econbiz.de/10012203268
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Income inequality and private bank credit in developed economies
Kvedaras, Virmantas - 2017
the European Union member states that have large penetration of bank credit. Building on the model of financially open … increase in private bank credit relative to the gross domestic product (GDP) and the gap between real interest rate and GDP …
Persistent link: https://www.econbiz.de/10012054552