proportion of debt financed firms in the industry. By introducing an additionnal upstream stage to the game, we then examine how … debt financing impacts on incentives to merge with competitors. We demonstrate that a merger involving leveraged firms …

Current study aims to provide new empirical evidence on the impact of debt on corporate profitability. This impact can … (GMM) econometric technique on three measures of profitability ratio (PROF1, PROF2 and ROA), we show that debt ratio has no …

Current study aims to provide new empirical evidence on the impact of debt on corporate profitability. This impact can … (GMM) econometric technique on three measures of profitability ratio (PROF1, PROF2 and ROA), we show that debt ratio has no …

a measure of total wealth is above a certain threshold. In particular, a too large initial debt makes financial …

stabilizing public debt. A public sector of pollution abatement is financed by taxation and by issuing public debt. Considering a … debt-output ratio. …

This article aims to expand existing empirical knowledge on the impact of debt level on profitability of companies. We … 2006. By using the generalized method of moments (GMM), we show that the debt affects negatively the profitability, not …

…scal multiplier is adversely affected by the amount of public debt. A regression model on a panel of 26 EU countries over … the period 1996-2011 shows that a 10 percentage point increase in the debt-to-GDP ratio is connected to a slowdown in … amount of public debt; for a debt-to-GDP ratio above 150% the impact on growth of the …scal stimulus turns negative. …

can thus have a Ponzi game and the government can allow a permanent roll-over of debt and cut taxes. However we show that … growth rate, the public debt is not a Pareto improvement when it generates a crowding-out of capital and reduces endogenous …

This paper studies the inflationary implications of interest bearing regional debt in a monetary union. Is this debt … simply backed by future taxation with non inflationary consequences ? Or will the circulation of region debt induce … multiple equilibria which reflect the perceptions of agents regarding the manner in which the debt obligations will be met. In …