Over the next decade, governments around the world will invest massively in new projects, aiming at closing the long-identified infrastructure gap, to sustain economic and social development, and to recover from recent adverse shocks. This paper examines this topic from two perspectives: (i) how...

We examine the factors that influence borrower's choice between structured finance (SF) and straight debt finance (SDF). Using a sample of 12,075 Western European loans and bonds issued between 2000 and 2011, we find that borrowers choose SF when they seek long-term financing and funding cost...

This paper provides details on the characteristics of structured leasing transactions and surveys the existing theoretical and empirical research. A structured leasing is a new and highly flexible transaction that develops synergies between funding policy, risk management of the underlying...

The literature on public transit services contracting, emphasizes the need of efficient contracting designs to promote parties’ interest alignment. There is, however, limited research addressing specific incentive mechanisms. The paper contributes to that literature by developing a...

This paper provides a comparative analysis of project finance (PF) and traditional corporate finance (CF) bond pricing. Using a cross-section of 47,196 bonds issued worldwide in the 1993-2020 period, we show that PF and CF bonds are differently priced, and although ratings are the most important...

A titularização de activos como meio alternativo de financiamento tem vindo a assumir importância crescente. A sua importância manifesta-se não apenas no sector financeiro, mas também nos restantes sectores da actividade económica e reflecte-se num número e volume crescentes de...

We examine the impact of the ECB’s asset purchase programmes on euro area non-financial firms’ cost of borrowing and choice between corporate bonds and syndicated loans. We find that the corporate sector purchase programme (CSPP) reduced corporate bond spreads, and that the ECB’s purchases...

This paper provides a comparative analysis of project finance (PF) and traditional corporate finance (CF) bond spreads and pricing. Using a cross-section of 47,196 bonds issued worldwide in the 1993-2020 period, we show that PF and CF bonds are differently priced, PF bonds have higher spreads...

In this study, we examine the impact of the European Central Bank’s (ECB) corporate sector purchase programme (CSPP) on euro area non-financial firms’ cost of borrowing and choice between bank and public debt. Using a large sample of corporate bonds and syndicated loans closed between 2000...