Results 221 to 230 of about 109,032 (273)

Do temporary changes in earnings caused by mean reversion affect firms’ refinancing decisions?

open access: yesJournal of Financial Research, EarlyView.
Abstract We develop a dynamic two‐stage trade‐off model with refinancing when earnings are mean reverting. Our model predicts a negative relation between profitability and leverage at refinancing due to conservative debt increases. With multiple rounds of refinancing, the leverage–profitability relation may turn positive when firms have substantial ...
Elettra Agliardi   +3 more
wiley   +1 more source

Hampered Monetary Policy Transmission ‐ A Supply‐Side Story?

open access: yesJournal of Money, Credit and Banking, EarlyView.
Abstract This paper shows that the supply side of credit is a major factor for hampered monetary policy transmission in monopolistic banking markets. Our stress test data containing projected interest rates of all 1,555 small and medium‐sized banks in Germany under two hypothetical scenarios provide a clear way to partial out demand shocks that are ...
LOTTA HECKMANN‐DRAISBACH, JULIA HARDT
wiley   +1 more source

Discussion of ‘Robust distance covariance’ by S. Leyder, J. Raymaekers and P. J. Rousseeuw

open access: yes
International Statistical Review, EarlyView.
Hallin Marc   +3 more
wiley   +1 more source

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