Academic research into firms that have gone public has focused on the study of two anomalies: initial underpricing and long-run underperformance. We analyse Spanish Initial Public Offerings to provide additional evidence on the long-run performance of IPOs and its relationship with initial...

This article examines the long-run stock market performance of German and Spanish initial public offerings (IPOs) between 1990 and 2000. We distinguish between family- and nonfamily-owned business IPOs by using the power subscale of the F-PEC. Buy-and-hold-abnormal returns (BHAR) are calculated...

Using a firm-level database covering 52 countries during the period 2004-2020, we investigate how legal institutions and the structure of banking systems affect the provision of trade credit for private firms. The results show that there is more reliance on trade credit versus short-term bank...

This paper analyzes the effect of financial leverage on corporate operating performance and how this effect varies across countries. Results for 10,375 firms in 39 countries indicate that the performance of firms with greater leverage is significantly reduced compared to their competitors in...

Este documento estudia cómo afectan las relaciones bancarias a los incentivos de pago de las empresas, empleando datos granulares a nivel de préstamos en España. Se encuentra un resultado novedoso: las empresas priorizan el pago a sus prestamistas principales para preservar sus relaciones...

This paper examines export diversification in Ecuador in the cases of fresh cut flowers, canned tuna, palm heart, broccoli and mangoes, using the theoretical framework on pioneers and discoveries developed by Hausmann and Rodrik(2003), as well as work by Sánchez and Butler (2006) on export...