Results 71 to 80 of about 15,112 (311)
Sovereign Credit Rating Mismatches
Notas Económicas, 2018 We study the factors behind ratings mismatches in sovereign credit ratings from different agencies, for the period 1980‑‑2015. Using random effects ordered and simple probit approaches, we find that structural balances and the existence of a default in ...
António Afonso, André Albuquerque
doaj +1 more source
Company Cost of Capital and Leverage: A Simplified Textbook Relationship Revisited
Schmalenbach Journal of Business Research, 2023 In this paper, we revisit a frequently employed simplification within the WACC approach that company cost of capital $$k_{V}$$ k V is supposed to be invariant to the debt ratio and therefore equal to the unlevered cost $$k_{U}$$ k U . Even though we know
Valentin Haag, Christian Koziol
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Business Strategy and the Environment, EarlyView.ABSTRACT The socio‐emotional wealth (SEW) perspective suggests that the specific priorities of a family business may make it more or less inclined to engage in sustainable practices. This paper examines how family business heterogeneity regarding family ownership, financial performance, and family board members affects the sustainability commitment of ...
Sonia Sánchez‐Andújar +2 more
wiley +1 more source
Sovereign Debt Restructuring and Credit Recovery
EconomíaThis paper focuses on the significant growth of domestic credit once the debt is restructured, and shows that it is not correlated with the size of the haircut.
Violeta A. Gutkowski
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Non-Defaultable Debt and Sovereign Risk
IMF Working Papers, 2014 Abstract We quantify gains from introducing limited financing through non-defaultable debt into a model of equilibrium sovereign risk. For an initial sovereign spread of 4.2%, introducing the possibility of issuing non-defaultable debt for up to 10% of aggregate income reduces immediately the spread to 1.5%, and implies a welfare gain equivalent to a
Juan Carlos Hatchondo +2 more
openaire +3 more sources
Beyond the ESG Facade: Measuring and Addressing Corporate ‘Lip Service’
Business Strategy and the Environment, EarlyView.ABSTRACT Amid growing global attention to environmental, social and governance (ESG), this study examines the misalignment between ESG disclosures and actual practices—termed ‘lip service’—using data from Chinese firms from 2006 to 2022, constructing an index to quantify it.
Jia Xu, Mingwei Liu, Helen X. H. Bao
wiley +1 more source
Default-risky Sovereign Debt [PDF]
Not only corporate but also sovereign debtors, in particular developing countries, may get into financial difficulties. Contrary to corporate issuers, they decide themselves if they continue to fulfill their debt obligations or convert their debt.
Andreas Wiggers
core
Business Strategy and the Environment, EarlyView.ABSTRACT Corporate sustainability has become a strategic priority in response to growing regulatory, social and environmental pressures, placing greater emphasis on governance structures, such as board composition, that shape the incorporation of ethical and sustainable values into corporate decision‐making.
Isabel‐María García‐Sánchez +3 more
wiley +1 more source
Exploring Corporate Capital Structure and Overleveraging in the Pharmaceutical Industry
RisksThis paper applies an empirical model of corporate capital structure, optimal debt, and overleveraging to estimate overleveraging measured as the difference between actual and optimal debt.
Samar Issa, Hussein Issa
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Management of financial risks in Slovak enterprises using regression analysis
Oeconomia Copernicana, 2018 Research background: Financial risk management is the task of monitoring financial risks and managing their impact. Financial risk is often perceived as the risk that a company may default on its debt payments.
Katarina Valaskova +2 more
doaj +1 more source