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Lending Booms, Reserves, and the Sustainability of Short-Term Debt : Inferences from the Pricing of Syndicated Bank Loans

Eichengreen, Barry - 1999

This paper analyzes the determinants of spreads on syndicated bank lending to emerging markets, treating the loan-extension and pricing decisions as jointly determined. Compared to the bond market, our findings highlight the role of international banks in providing credit to smaller borrowers...

Persistent link: https://www.econbiz.de/10012471681

The Information View of Financial Crises

Dang, Tri Vi - 2019

Short-term debt that can serve as a medium of exchange is designed to be information insensitive. No one should be tempted to acquire private information to gain an informational advantage in trading that could destabilize the value of the debt. Short-term debt minimizes the incentive to acquire...

Persistent link: https://www.econbiz.de/10012480021

The Financing of R&D and Innovation

Hall, Bronwyn H. - 2009

Evidence on the "funding gap" for investment innovation is surveyed. The focus is on financial market reasons for underinvestment that exist even when externality-induced underinvestment is absent. We conclude that while small and new innovative firms experience high costs of capital that are...

Persistent link: https://www.econbiz.de/10012463325

Is Investor Rationality Time Varying? Evidence from the Mutual Fund Industry

Glode, Vincent - 2009

We provide new empirical evidence suggesting that the marginal investor in mutual funds behaves differently across market conditions. If the marginal investor allocates capital across mutual funds rationally, then the relative performance of funds should be unpredictable. We find however that...

Persistent link: https://www.econbiz.de/10012463611

Risk Taking, Limited Liability and the Competition of Bank Regulators

Sinn, Hans-Werner - 2001

Limited liability and asymmetric information between an investment bank and its lenders provide an incentive for a bank to undercapitalise and finance overly risky business projects. To counter this market failure, national governments have imposed solvency constraints on banks. However, these...

Persistent link: https://www.econbiz.de/10012470046

Bank Relationships, Business Cycles, and Financial Crises

Hale, Galina - 2011

The importance of information asymmetries in the capital markets is commonly accepted as one of the main reasons for home bias in investment. We posit that effects of such asymmetries may be reduced through relationships between banks established through bank-to-bank lending and provide evidence...

Persistent link: https://www.econbiz.de/10012461302

Coordination and information : historical perspectives on the organization of enterprise

Lamoreaux, Naomi R. (ed.); Raff, Daniel M. G. (contributor) - 1995

Persistent link: https://www.econbiz.de/10013480887

International differences in the business practices and productivity of firms

Freeman, Richard B. (ed.); Shaw, Kathryn (contributor) - 2009

Persistent link: https://www.econbiz.de/10003774896

Managing Public Investment Funds : Best Practices and New Challenges

Mitchell, Olivia S. - 2008

and economically sound public fund management practices in these funds, as well as how to evaluate their governance and … finance literature, we also link their management to governance practices and country-specific characteristics, and contrast …

Persistent link: https://www.econbiz.de/10012464569

The World Management Survey at 18 : lessons and the way forward

Scur, Daniela; Sadun, Raffaella; Van Reenen, John; … - National Bureau of Economic Research - 2021

Understanding how differences in management "best practices" affect organizational outcomes has been a focus of both … theoretical and empirical work in the fields of management, sociology, economics and public policy. The World Management Survey … (WMS) project was born almost two decades ago with the main goal of developing a new systematic measure of management …

Persistent link: https://www.econbiz.de/10012496077