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This paper analyzes annual accounting data for a sample of 5,000 publicly traded manufacturing firms from Germany, France, Italy, Japan, and the United Kingdom. The analysis uses data from 1997 to 2011 and finds an increasing trend of excess savings (defined as the difference between gross...
Persistent link: https://www.econbiz.de/10011395854
This paper analyzes annual accounting data for a sample of 5,000 publicly traded manufacturing firms from Germany, France, Italy, Japan, and the United Kingdom. The analysis uses data from 1997 to 2011 and finds an increasing trend of excess savings (defined as the difference between gross...
Persistent link: https://www.econbiz.de/10012560174
This paper analyzes annual accounting data for a sample of 5,000 publicly traded manufacturing firms from Germany, France, Italy, Japan, and the United Kingdom. The analysis uses data from 1997 to 2011 and finds an increasing trend of excess savings (defined as the difference between gross...
Persistent link: https://www.econbiz.de/10012974091
information asymmetries, some firms experience hold-up problems in debt financing. Based on the prediction in Rajan (1992), we …
Persistent link: https://www.econbiz.de/10013032823
information asymmetries, some firms experience hold-up problems in debt financing. Based on the prediction in Rajan (1992), we …
Persistent link: https://www.econbiz.de/10013034501
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