Narrow search
Showing 1 - 10 of 871
Cover Image
On the real effects of private equity investment: evidence from new business creation
Popov, Alexander; Roosenboom, Peter - 2009
Using a comprehensive database of European firms, we study how private equity affects the rate of firm entry. We find that private equity investment benefits new business incorporation, especially in industries with naturally higher entry rates and R&D intensity. A two standard deviation...
Persistent link: https://www.econbiz.de/10011605124
Cover Image
On the Real Effects of Private Equity Investment : Evidence from New Business Creation
Popov, Alexander - 2010
Using a comprehensive database of European firms, we study how private equity affects the rate of firm entry. We find that private equity investment benefits new business incorporation, especially in industries with naturally higher entry rates and R&D intensity. A two standard deviation...
Persistent link: https://www.econbiz.de/10013152176
Cover Image
Information technology in banking and entrepreneurship
Ahnert, Toni; Dörr, Sebastian; Pierri, Nicola; Timmer, … - 2024
, we establish that job creation by young firms is stronger in US counties more exposed to banks with greater IT adoption …. We present evidence consistent with banks' IT adoption spurring entrepreneurship through a collateral channel …: entrepreneurship increases by more in IT-exposed counties when house prices rise. Further analysis suggests that IT improves banks …
Persistent link: https://www.econbiz.de/10015199520
Cover Image
House prices, home equity and entrepreneurships
Corradin, Stefano; Popov, Alexander - 2013
How does home ownership affect new business creation? We develop a model of career choice in the presence of liquidity constraints in which shocks to the value of real estate affect the propensity of potential entrepreneurs to borrow against the value of their property. Using a large US...
Persistent link: https://www.econbiz.de/10011605589
Cover Image
House Prices, Home Equity and Entrepreneurships
Corradin, Stefano - 2013
How does home ownership affect new business creation? We develop a model of career choice in the presence of liquidity constraints in which shocks to the value of real estate affect the propensity of potential entrepreneurs to borrow against the value of their property. Using a large US...
Persistent link: https://www.econbiz.de/10013082537
Cover Image
Intensified competition and the impact on credit ratings in the RMBS market
van Breemen, Vivian; Fabozzi, Frank J.; Vink, Dennis - 2022
In this paper, we empirically investigate the impact of intensified competition on rating quality in the credit rating market for residential mortgage-backed securities (RMBS) in the period 2017-2020. We provide evidence that competition between large credit rating agencies (CRAs) (Moody's and...
Persistent link: https://www.econbiz.de/10014278275
Cover Image
Do reputable issuers provide better-quality securitizations?
Deku, Solomon Y.; Kara, Alper; Marqués Ibáñez, David - 2019
We examine the link between issuer reputation and mortgage-backed security (MBS) performance using a sample of 4,247 European MBS issued between 1999 and 2007. We measure performance with credit rating downgrades and delinquencies and track their changes over the long term. We find that,...
Persistent link: https://www.econbiz.de/10012142080
Cover Image
Risk characteristics of covered bonds: Monitoring beyond ratings
Grothe, Magdalena; Zeyer, Jana - 2020
This paper proposes a set of indicators relevant for the risk characteristics of covered bonds, as based on granular publicly available transparency data. The indicators capture various aspects of cash flow risks related to the issuer, the cover pool and the payment structure. They offer unified...
Persistent link: https://www.econbiz.de/10012422055
Cover Image
Short-term determinants of the idiosyncratic sovereign risk premium: a regime-dependent analysis for european credit default swaps
Calice, Giovanni; Miao, RongHui; Štěrba, Filip; … - 2014
This study investigates the dynamics of the sovereign CDS term premium for five European countries. The CDS term premium can be regarded as a forward-looking measure of idiosyncratic sovereign default risk as perceived by financial markets. Using a Markov-switching unobserved component model, we...
Persistent link: https://www.econbiz.de/10011605762
Cover Image
Advances in multivariate back-testing for credit risk underestimation
Coppens, François; Mayer, Manuel; Millischer, Laurent; … - 2016
When back-testing the calibration quality of rating systems two-sided statistical tests can detect over- and underestimation of credit risk. Some users though, such as risk-averse investors and regulators, are primarily interested in the underestimation of risk only, and thus require one-sided...
Persistent link: https://www.econbiz.de/10011605930