The paper aims to examine the new regulatory framework of project finance in the economics of banking firms. In particular, the paper investigates the uniqueness of the project finance, the significant importance of the project finance in bank activity, and the role of the new bank capital...

Using a comprehensive dataset of Italian SMEs, we find that differences between private and public information on firm creditworthiness affect the decision to issue traded debt securities. Specifically, holding public information constant, firms with better private fundamentals are more likely...

The simultaneous unwinding of leveraged positions can trigger financial market turbulence. Although balance-sheet measures of leverage are available, it is useful to construct a measure of leverage that incorporates both on- and off-balance-sheet activities. This paper provides measures of...

Using integral indicator of financial system development, we investigate how the financial system in Ukraine and Poland developed during 2010-2015 and how financial system development affects financing of farms in Ukraine and Poland. The results of the study indicate that there was a rapid...

The available corporate finance decision identification models suffer from bounded rationality as they are static. Adopting factor analysis and using balance sheet information (accounts) over time, these decisions can be found using patterns in the data. The study identified three latent...