tend not to face higher interest rates because they provide collateral. This paper illustrates these effects in a model and …

relatively general. Applying human capital theory, we expect higher wage growth for full-time educated auditors than for dual …In the Netherlands auditors can be trained in a part-time educational track in which students combine working and …-educated auditors. Furthermore, full-time educated auditors may have better outside options than parttime educated auditors. This may …

Lenders condition future loans on some index of past performance. Typically, banks condition future loans on repayments …

-2012 sovereign debt crisis. Using newly available data linking over 3,000, mostly privately-held, non-financial firms to their bank(s …We test whether financial fluctuations affect firms' decisions, through their impact on banks' cost of funding. We … exploit two shocks to Italian bank CDS spreads and equity valuations: the 2007-2009 financial crisis and the 2010 …

Attempts to curb illegal activity through regulation gets complicated when agents can adapt to circumvent enforcement …. Economic theory suggests that conducting audits on a predictable schedule, and (counter-intuitively) at high frequency, can …

contributions to the latter's decisions. Both a shift from national to international regulation and a decrease in trade costs …