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SMEs see a pick-up in business in 2010, but delay investment

J.L. Cayssials.; F. Servant. - In: Quarterly selection of articles - Bulletin de la Banque … (2011) 23, pp. 5-33

The pick-up in business in 2010 enabled SMEs to improve their profits and to build their equity, even if there were substantial disparities across companies. Increasing cash holdings and low investment are characteristic of cautious behaviour.

Persistent link: https://www.econbiz.de/10010552974

The position of firms in 2008.

In: Quarterly selection of articles - Bulletin de la Banque …, 16, pp. 53-81

The new definition of enterprises and their size, with the introduction of mid-tier companies, has brought to light three very distinct populations. Mid-tier and large enterprises continue to borrow and invest, unlike small and medium-sized enterprises (SMEs), which are nevertheless the most...

Persistent link: https://www.econbiz.de/10009274757

French companies in 2011: expanding activity but shrinking profits

In: Quarterly selection of articles - Bulletin de la Banque … (2012) 28, pp. 5-40

In 2011, improved turnover did not translate into better earnings for French companies with margins levelling off profitability contracting. Balance-sheet structures remained generally solid, but showed signs of deterioration.

Persistent link: https://www.econbiz.de/10010635607

Inside Debt and Recoveries in Bankruptcy

Pawliczek, Andrea - 2016

I examine the theoretical prediction that executive inside debt results in higher recoveries in bankruptcy. Using a … unsecured debt in bankruptcy. Firms where CEOs have inside debt at the sample mean experience $0.053 greater recoveries per … dollar of debt in the event of bankruptcy relative to firms where the CEO does not have inside debt. Consistent with theory …

Persistent link: https://www.econbiz.de/10012995133

Investigating the optimal exit timing and leverage during the COVID-19 crisis

Abdelhamid, Mohamed Ben; Bellalah, Makram - In: Financial studies 27 (2023) 1, pp. 18-38

factors, such as productivity uncertainty, debt readjustment, liquidity constraints, and leverage level, to explain the …

Persistent link: https://www.econbiz.de/10014327988

Personal bankruptcy protection and household debt

Severino, Felipe; Brown, Meta; Chakrabarti, Rajashri - 2024

, we find that borrowers respond to greater protection by increasing their unsecured debt. Border county estimates suggest …. Increased protections did not reduce the aggregate level of household debt but affected the composition of borrowing. …

Persistent link: https://www.econbiz.de/10014519066

Renegotiable debt, liquidity injections and financial instability

Doh, Hyun Soo; Feng, Guanhao - In: Journal of derivatives and quantitative studies 32 (2024) 3, pp. 182-199

This paper develops a debt-run model to study the effects of liquidity injections on debt markets in the presence of a … terms of debt. We show that when equityholders have a large bargaining power, liquidity injections into distressed firms can … rather cause more aggressive runs from their creditors, hurting the debt value. This outcome occurs because equityholders can …

Persistent link: https://www.econbiz.de/10015055030

The economic slowdown took a toll on SMEs’ profits and investments in 2012

J.-L. Cayssials.; J. Rhein. - In: Quarterly selection of articles - Bulletin de la Banque … (2013) 31, pp. 19-44

debt ratios, even though many of them were weakened by the shock from the 2009 recession. …

Persistent link: https://www.econbiz.de/10010760465

The performances of French firms deteriorated in 2012 but they consolidated their financial structures

D. Lefilliatre.; L. Rhein. - In: Quarterly selection of articles - Bulletin de la Banque …, 32, pp. 77-112

In 2012, disparities were observed among the financial positions of French firms. Activity slowed down, profits fell and the rise in equity was smaller than in 2011. Nevertheless, firms’ financial structures improved and their cash position reached a 15-year high.

Persistent link: https://www.econbiz.de/10010760466

Personal bankruptcy protection and household debt

Severino, Felipe; Brown, Meta; Chakrabarti, Rajashri - 2024

Persistent link: https://www.econbiz.de/10014581790