This study has two objectives, first, to investigate if the lending behaviour of banks exhibits moral hazard in the Indian Banking Industry, and second, to investigate whether banks' moral hazard behaviour changes when the systemic importance of the banks is taken into consideration. We studied...

Using the Ordinary Least Square (OLS) estimation technique based on a sample of 180 listed firms from 2008 to 2018, this study investigates the impact of institutional ownership on firm performance in the Bangladeshi setting. Consistent with the "active monitoring" view, the results indicate...

El estudio de las disfunciones financieras de las empresas ha sido un tópico común en la investigación a lo largo de las últimas décadas; no obstante, algunos aspectos de los procesos de fracaso han recibido relativamente poca atención. Este trabajo profundiza en su dimensión temporal....

In this paper, we revisit a frequently employed simplification within the WACC approach that company cost of capital kV is supposed to be invariant to the debt ratio and therefore equal to the unlevered cost kU . Even though we know from Miles and Ezzell (1980) that kV formally differs from kU ,...

Leasing provides a fundamental source of firm funding, especially for small and medium-sized enterprises. A crucial difference from loans and bonds is that the lessor retains ownership rights of the leased asset during the lease term. This facilitates the asset utilization and work-out process...

This study investigates the inter-relationship between audit committee effectiveness, bank efficiency and risk-taking in seven ASEAN countries for the period 2010-2019. By using three-stage least squares (3SLS) method, we contribute to literature the relationship between audit committee...

Encouraged by the forbearance of creditors and exit barriers (e.g., inefficient insolvency regimes), the zombie phenomenon has weakened business dynamism and, as a consequence, has slowed economic growth in most economies in recent decades. In this paper, we examine the recovery and exit of...

The track record of Swiss publicly listed companies in creating economic value is assessed, along with their propensity to experience corporate distress. This assessment is conducted both in absolute terms and relative to foreign peers for the years 2005 to 2022. Established measures of...

Zombieunternehmen werden mittlerweile sowohl in den Medien als auch in der Wissenschaft breit diskutiert. Da sich die meisten Studien vorrangig international mit dem Phänomen auseinandersetzen, fehlt es an detaillierten Analysen für die Schweiz. Das vorliegende Kurzpapier beleuchtet daher...

A firm’s current leverage ratio is one of the core characteristicsof credit quality used in statistical default prediction models. Based on thecapital structure literature, which shows that leverage is mean-reverting to atarget leverage, we forecast future leverage ratios and include them in...