shorter maturity credit lines than large firms; (ii) have less active maturity management and therefore frequently have … expiring credit; (iii) post more collateral on both credit lines and term loans; (iv) have higher utilization rates in normal … recession. Consistent with the theory, the increase in bank credit in 2020:Q1 and 2020:Q2 came almost entirely from drawdowns by …

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 …

In this paper we use balance-sheet data and information on bankruptcy to study the relationship between investment …-2011, which also allows us to study the impact of the 2008 crisis on Czech companies. Using investment-cash flow sensitivity to … significant impact on the investment rate. By taking a closer look at individual subsamples we reveal that the existence of …

augmented to include incomplete information about credit risk. Austerity is defined as the shortfall of consumption from the … more favourable loan package; that it is associated with over-investment even when investment does not create collateral …

augmented to include incomplete information about credit risk. Austerity is defined as the shortfall of consumption from the … more favourable loan package; that it is associated with over-investment even when investment does not create collateral …

include incomplete information about credit risk. Austerity is defined as the shortfall of consumption from the level desired … favorable loan package; that it is associated with over-investment even when investment does not create collateral; and that low …