Several recent papers have documented the benefits of debtor-in-possession (DIP) financing in the restructuring of firms in Chapter 11. However, the view on benefits is not unanimous and some legal scholars have raised doubts about DIP financing's effects on debt-holders and the possibility of...

To identify issuer motives, we study the determinants of announcement effects of convertible debt issues in the Canadian market. Classified into equity- and debt-like, wealth effects are significantly more negative for equity-like convertible bond issuers. Equity-like convertibles are...

In the current times, the issue of the deficits became very problematic for the economists, as well as for the practitioners and theoreticians. The purpose of this paper consists in the construction of a Panel VAR model, which has the role to test the Ricardian approach to deficits in several...

In the current times, the issue of the deficits became very problematic for the economists, as well as for the practitioners and theoreticians. The purpose of this paper consists in the construction of a Panel VAR model, which has the role to test the Ricardian approach to deficits in several...

Since the early 1990s, credit expanded relative to income, especially after 2001. It is hypothesized that traditionally uneven credit access and gaps in the costs of credit by demographic characteristics shrank during this period. Relying on data from the Federal Reserve’s Survey of Consumer...

Over the past few decades, financial markets became increasingly deregulated and household debt expanded, sometimes rapidly. It is thus possible that greater deregulation led to improved credit access for typically underserved groups, such as minorities and low-income families, relative to their...

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The article explores Ireland's participation in the exchange rate mechanism (ERM) of the European Monetary System since mid-1986. It has been found that membership of the ERM per se did not have the expected moderating influence on interest rates. Ireland's participation in the ERM was intended...

The characteristics of the interest rate pass-through in the Czech Republic, Hungary and Poland are studied making use of autoregressive distributed lags (ARDL) models. Significant differences are found across market interest rates and countries concerning long-run elasticities of market...

Kapitalo struktūra apibūdinama kaip įmonės kapitalo arba fi­nansinių priemonių sudėtis iš įvairių kapitalo rūšių, kurios atpažįstamos įmonės nuosavybės balanso pusėje. Kapitalo struktūra yra tik tuomet optimali, kai ji lemia įmonės veikla besidominčių ekonomikos...