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This paper evaluates the imposition of caps on microcredit lending rates through directed credit policies for …
Persistent link: https://www.econbiz.de/10012285081
Efficient and effective working capital management is crucial given its impact on the company's profitability. The focus of the research in this paper is the impact of individual components of working capital on the profitability of industrial companies. The research was conducted on a sample of...
Persistent link: https://www.econbiz.de/10013382101
' choice between cash and lines of credit as a source of liquidity. I find that customer risk decreases the reliance on bank … factors affecting the choice between cash and lines of credit. A one standard deviation increase in customer risk is … associated to a significant 1.48% up to 2.44% (depending on the measure used) decrease of the ratio of opened lines of credit to …
Persistent link: https://www.econbiz.de/10012969136
Despite the inefficiencies documented in empirical studies, state ownership of productive assets persists worldwide. One explanation is the “market failure” view, positing that the raison d'être of state-owned firms is to enable projects the private sector is reluctant to sponsor. I analyze...
Persistent link: https://www.econbiz.de/10013091652
Despite the inefficiencies documented in empirical studies, state ownership of productive assets persists worldwide. One explanation is the “market failure” view, positing that the raison d'être of state-owned firms is to enable projects the private sector is reluctant to sponsor. I analyze...
Persistent link: https://www.econbiz.de/10013058705
We build a model of investment and financing decisions to study the choice between bonds and bank loans in a firm … bargaining power in default, operating in more competitive product markets, and facing lower credit supply are more likely to …
Persistent link: https://www.econbiz.de/10010258730
correlated credit risk, the IRB rules should require 45% lower capital requirements for small business loans than what the Basel …
Persistent link: https://www.econbiz.de/10012936672
correlated credit risk, the IRB rules should require 45% lower capital requirements for small business loans than what the Basel …
Persistent link: https://www.econbiz.de/10012940143
Using novel data on 1,240 credit agreements, we investigate sources of contractual complexity in the leveraged loan … agreements, and a larger non-bank funding of a loan is conducive to weaker contractual terms. Weak covenants translate to …
Persistent link: https://www.econbiz.de/10012851804
' choice between cash and credit lines. I show that customer risk decreases the reliance on bank-managed liquidity insurance … relative to cash. I also find evidence indicating that firms actively shy away from credit lines in response to customer risk …-customer-risk firms are particularly more likely to be subject to (stricter) borrowing base provisions, which tie the value of a credit …
Persistent link: https://www.econbiz.de/10012852945