We examine differences in audit scope between family and non-family firms in Israel, using a unique database that includes both external and internal audit fees, hours, and billing rates. Consistent with prior literature, we argue that the number of audit hours reflects an auditor’s effort,...

What accounts for the large gaps in aggregate productivity across countries? I study the impact of equity frictions and policy distortions on aggregate productivity, investments in productivity and average firm size. I document that economies with deeper equity markets have higher productivity,...

Indonesian Abstract: Pengaturan keuangan yang ada dalam perusahaan, umumnya disebut juga dengan pengelolaan keuangan. Pengelolaan Keuangan perusahaan berperan penting dalam perkembangan bisnisnya ke depan. Tujuan dari pengelolaan keuangan ini adalah memaksimalkan keuntungan, yang tidak hanya...

We propose a new channel through which exchange rates affect trade. Exploiting the heterogeneity in firms’ foreign currency debt maturity structure around a large depreciation in Colombia, we show that debt revaluation compresses imports due to higher delinquencies and interest rates, while...

Most domestic and international firm-to-firm transactions rely on trade credit, where sellers grant buyers time to pay the invoice after delivery. Exploiting Chilean and Colombian transaction-level trade data, this paper documents new facts about trade credit use: trade credit use increases with...

The European low-carbon transition began in the last few decades and is accelerating to achieve net-zero emissions by 2050. This paper examines how climate-related transition indicators of a large European corporate firm relate to its CDS-implied credit risk across various time horizons....

This paper explores the short-term impact of borrowing via lending-based crowdfunding on performance and health of small and medium enterprises (SMEs) in France. We find that firms borrowing from lending-based crowdfunding platforms are more dynamic (higher asset growth and higher profitability)...

We examine how year-over-year financial statement textual dissimilarity is related to the pricing of private debt contracts. Our findings support a higher loan spread for firms with high financial statement dissimilarity, independent from financial statement readability and comparability....

The purpose of the study was to assess factors affecting access to finance by small and medium enterprises in Zambia with a focus on Kitwe based small and medium enterprises. The research was quantitative in its approach. An online questionnaire was distributed to Small and Medium Enterprises...