Results 21 to 30 of about 74,833 (42)
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When Losses Turn into Loans: The Cost of Weak Banks
The American Economic Review, 2023We provide evidence that banks distort the composition of credit supply in order to comply with ratio-based capital requirements in times of economic distress.
Laura Blattner +2 more
semanticscholar +1 more source
The Economic Effects of Mafia: Firm Level Evidence
The American Economic Review, 2022We analyze the effects of Mafia infiltration in the legal economy. Combining information from investigative records with panel data on firms’ governance and balance sheets, we build an indicator of infiltration in firms located in an area with no ...
Litterio Mirenda, S. Mocetti, L. Rizzica
semanticscholar +1 more source
Take the Goods and Run: Contracting Frictions and Market Power in Supply Chains
The American Economic ReviewThis paper studies the efficiency of self-enforced relational agreements, a common solution to contracting frictions, when sellers have market power and contracts cannot be externally enforced.
Felipe Brugués
semanticscholar +1 more source
The Effects of Going Public on Firm Profitability and Strategy
The Review of financial studiesWe study the effects of going public using a unique panel of firms in 16 European countries for which we observe financial data before and after initial public offering (IPO) attempts. We compare completed and withdrawn IPO attempts.
B. Larrain +3 more
semanticscholar +1 more source
Financial reporting quality and optimal capital structure
Journal of Business Finance & Accounting, 2023We investigate the role of financial reporting quality in reducing a firm’s overand underleverage problem. Prior research suggests that due to financing frictions arising from adverse selection concerns, firms’ observed capital structure deviates from ...
Christina Synn, Christopher D. Williams
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Paying for Expertise: The Effect of Experience on Insurance Demand
Social Science Research NetworkMayers and Smith (1982) argue that one of the main reasons why corporations buy insurance is because insurers have a comparative advantage in providing real services, such as claims administration, monitoring, and loss prevention.
Vaibhav Anand +2 more
semanticscholar +1 more source
Machine Learning for Continuous-Time Finance
Social Science Research NetworkWe develop an algorithm for solving a large class of nonlinear high-dimensional continuous-time models in finance. We approximate value and policy functions using deep learning and show that a combination of automatic differentiation and Ito’s lemma ...
Victor F. Duarte +2 more
semanticscholar +1 more source
How Does Removing the Tax Benefits of Debt Affect Firms? Evidence from the 2017 U.S. Tax Reform
The Review of financial studiesThe impact of tax benefits of debt on firms remains an open question. The 2017 U.S. tax reform limited the tax advantage of debt for all firms except for small businesses with average sales below $25 million.
Ali Sanati, Mehdi Beyhaghi
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Firm-level Climate Change Exposure and Corporate Cash Holdings: Evidence from Asian Countries
Journal of Emerging Market FinanceThis study investigates the correlation between climate change exposure and corporate cash holdings. Using climate change data exposed at the firm level of 804 unique firms between 2002 and 2022 in six Asian countries (Japan, Korea, China, Singapore ...
Huong Le +4 more
semanticscholar +1 more source
The American Economic Review
Using Canadian administrative data, this paper presents evidence of revenue and productivity spillovers across firms at fine spatial scales. Accounting for the endogenous sorting of firms across space, we estimate an average elasticity of firm revenue ...
Nathaniel Baum-Snow +2 more
semanticscholar +1 more source
Using Canadian administrative data, this paper presents evidence of revenue and productivity spillovers across firms at fine spatial scales. Accounting for the endogenous sorting of firms across space, we estimate an average elasticity of firm revenue ...
Nathaniel Baum-Snow +2 more
semanticscholar +1 more source