Showing 21 - 30 of 43
We use data on the sources of debt finance of U.S. majority-owned foreign affiliates in 53 countries over the period …
Persistent link: https://www.econbiz.de/10014404176
''s theoretically anomalous findings that developing country firms make considerably more use of external finance and new equity issues … than developed country firms to finance asset growth hold in the case of Ghana. Replicating Singh''s methodology, our … total assets mainly from short-term debt. The stock market, however, is the most important source of long-term finance for …
Persistent link: https://www.econbiz.de/10014404248
corporate access to external finance (loans and bond issuance). We conclude that coercive government actions towards external …
Persistent link: https://www.econbiz.de/10014404255
We examine risk spreads charged on corporate bonds placed by emerging market borrowers on international exchanges. While global developments have an important effect on spreads, changes in firm-level default risk also matter significantly in a way consistent with theory and experience in mature...
Persistent link: https://www.econbiz.de/10014404328
Stock markets play a key role in corporate financing in Asia. However, despite their increasing importance in terms of size and cross-border investment activity, the region’s markets are reputed to be more “idiosyncratic” and less reliant on economic and corporate fundamentals in their...
Persistent link: https://www.econbiz.de/10014411156
The monetary transmission mechanism in the euro area has been adversely affected by the recent crises. Using survey … data on thousands of euro area firms, we study factors that affect the access to finance of SMEs. We find that changes in … bank funding costs and borrower leverage matter for firms’ access to finance. Increases in bank funding costs and borrowers …
Persistent link: https://www.econbiz.de/10014411219
We examine corporate sector vulnerabilities in Brazil, Chile, Colombia, Mexico and Peru. First, we identify stylized facts based on corporate financial indicators. Second, we assess vulnerability of individual firms to a sudden stop in financing through a probit model, using a panel of 18...
Persistent link: https://www.econbiz.de/10014395311
We examine how the cost of corporate credit varies around fiscal consolidations aimed at reducing government debt. Using a new dataset on fiscal consolidations and syndicated corporate loan data, we find that loan spreads increase with fiscal consolidations, especially for small firms, domestic...
Persistent link: https://www.econbiz.de/10014395407
The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and...
Persistent link: https://www.econbiz.de/10014395949
The simultaneous unwinding of leveraged positions can trigger financial market turbulence. Although balance-sheet measures of leverage are available, it is useful to construct a measure of leverage that incorporates both on- and off-balance-sheet activities. This paper provides measures of...
Persistent link: https://www.econbiz.de/10014398157