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Using firm-level data for 18 major global economies, we find that the exchange rate affects corporate investment through a financial channel: exchange rate depreciation dampens corporate investment through firm leverage and FX debt. These findings are consistent with the predictions of a...
Persistent link: https://www.econbiz.de/10013250472
Securities crowdfunding — the sale of unregistered securities to the public over the Internet — has come under attack before it has even begun. Legal scholars in particular have expressed concern that investors will lose any money they invest in crowdfunding companies. Even assuming that...
Persistent link: https://www.econbiz.de/10013017019
We study how financial market efficiency affects a measure of diversification of output across industrial sectors borrowed from the portfolio allocation literature. Using data on sector-level value added for a wide cross section of countries and for various levels of disaggregation, we construct...
Persistent link: https://www.econbiz.de/10013136834
This paper examines optimal enviromental policy when external financing is costly for firms. We introduce emission externalities and industry equilibrium in the Holmström and Tirole (1997) model of corporate finance. While a cap-and-trading system optimally governs both firms` abatement...
Persistent link: https://www.econbiz.de/10013309435
We analyze gender bias in entrepreneurship finance. Access to finance is crucial for entrepreneurial success, yet women are particularly constrained. We structurally unpack whether loan officers evaluate business ideas and implementation constraints differently for male and female entrepreneurs,...
Persistent link: https://www.econbiz.de/10014578559
innovation performance in the competitive and fast-changing environment. The current environment has transformed the internal … innumerable barriers to achieve the innovation performance and the SMEs should recognise the internal barriers so that they are … able to accelerate their innovation performance. Therefore, this study aims at examining the internal barriers namely …
Persistent link: https://www.econbiz.de/10014461334
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Business advisors and their impact on the perfor -mance of micro, small and medium-sized com- panies (MSMEs) have been in the focus of many researchers for a long time. MSMEs are reporting increasing interest in professional business advice, but only a small share of MSME owners is using...
Persistent link: https://www.econbiz.de/10012012567
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