We model default with novel loan data maintained by the Portuguese Central Bank for 31,025 accounts of privately-held firms that include 30 accounting ratios and non-accounting information on size, age, industry and geographic regions. Interest costs to gross income, number of days in payables...

When there is significant doubt about a firm's ability to continue as a going concern, professional standards require independent auditors to disclose the uncertainty in their report. This study assesses the influence of the independent auditor's going-concern evaluation by examining default...

This study investigates the presence of panel effects in the foreign bank investment decision in the USA. To accomplish this purpose, it tests a model of the effect of home country factors on foreign bank investment in the USA. The relationship between home country factors and foreign bank...

The recent financial crisis has clearly shown that the relationship between bank internationalization and risk is complex. Multinational banks can benefit from portfolio diversification, reducing their overall riskiness, but this effect can be offset by incentives going in the opposite...

We assess the use of bank loan information in predicting the timing to default. We use unique data on defaults in small and medium enterprises maintained by the Central Bank of Portugal which includes financial accounting and macroeconomic indicators, as well as non-financial information. The...

This article analyses the exit decision in the European venture capital market, studying <italic>when to exit</italic> and how it interacts with the <italic>exit form</italic>. Using a competing risks model we study the impact on the exit decision of the characteristics of venture capital investors, of their investments and of...

The banking literature focuses extensively on the phenomenon of bank entry and pays less attention to the factors driving the continuation of banking activities in foreign markets. In this paper, we analyze this important, but overlooked, issue by constructing a unique database of foreign banks...

type="main" xml:lang="en" <title type="main">Abstract</title> <p>We study the factors that determine the debt funding of subsidiaries of multinational banks. Our findings indicate that the funding of subsidiaries is determined by the internalization advantages of the parent bank and the home country, in addition to the...</p>