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Financial development and employment : evidence from transition countries
Schäfer, Dorothea; Steiner, Susan - 2014
This paper studies the association between a country's level of financial development and firms' employment growth. We … development affects the employment of firms with low managerial capital negatively, while firms with high managerial capital … Enterprise Performance Survey covering transition countries in Eastern Europe and Central Asia. We use firm size as a proxy for …
Persistent link: https://www.econbiz.de/10010361348
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Investor sentiment and employment
Montone, Maurizio; Zwinkels, Remco C. J. - 2015
We find that investor sentiment should affect a firm's employment policy in a world with moral hazard and noise traders …. Consistent with the model's predictions, we show that higher sentiment among US investors leads to: (1) higher employment growth … worldwide; (2) lower labor productivity, as the growth in employment is not matched by real value added growth; and (3) positive …
Persistent link: https://www.econbiz.de/10010503991
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Bank liquidity provision across the firm size distribution
Chodorow-Reich, Gabriel; Darmouni, Olivier; Luck, Stephan; … - 2020
Using loan-level data covering two-thirds of all corporate loans from U.S. banks, we document that SMEs (i) obtain much shorter maturity credit lines than large firms; (ii) have less active maturity management and therefore frequently have expiring credit; (iii) post more collateral on both...
Persistent link: https://www.econbiz.de/10012309187
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Investment of financially distressed firms : the role of trade credit
Ferrando, Annalisa; Wolski, Marcin - 2018
We study the relationship between net trade credit and firms' investment levels, focusing on financially distressed firms. First, we introduce a theoretical model to predict the role played by net trade credit as a coordination device differentiating firms by their degree of financial distress....
Persistent link: https://www.econbiz.de/10011820889
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Financial inclusion in Asia : an overview
Ayyagari, Meghana; Beck, Thorsten - 2015
This paper provides an analysis of financial development and inclusion in developing Asia using data from a wide array of sources. We show that in terms of aggregate measures of financial development, the region as a whole has superior banking sector depth compared to other developing regions;...
Persistent link: https://www.econbiz.de/10011346230
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Financing Asia's growth
Estrada, Gemma B.; Noland, Marcus; Park, Donghyun; … - 2015
Recent key challenges highlight the need to revisit Asia's financial development. These include the region's growth slowdown since the global crisis, compounded by a less benign external environment; internal structural challenges, such as population aging; and the maturing of much of the region...
Persistent link: https://www.econbiz.de/10011305285
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The financial systems of financially less developed Asian economies : key features and reform priorities
Batten, Aaron; Doung, Poullang; Enkhbold, Enerelt; … - 2015
Developing Asia's financial depth as a whole compares favorably with other parts of the developing world, but there are wide variations across subregions and economies. This paper examines the key features and reform priorities of the financial systems in Bangladesh, Cambodia, Georgia, Mongolia,...
Persistent link: https://www.econbiz.de/10011346234
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Digital financial inclusion, economic freedom, financial development, and growth : implications from a panel data analysis
Rekha, G.; Rajamani, K.; Resmi, G. - 2021
An all-inclusive financial system is one of the channels through which information and communication technology (ICT) affects economic growth. Digital financial inclusion is an evolving phenomenon that enhances the ease of access to and availability of formal financial services. Further,...
Persistent link: https://www.econbiz.de/10012500594
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Financial intermediary balance sheet management
Adrian, Tobias; Shin, Hyun Song - 2011
Conventional discussions of balance sheet management by nonfinancial firms take the set of positive net present value (NPV) projects as given, which in turn determines the size of the firm's assets. The focus is on the composition of equity and debt in funding such assets. In contrast, the...
Persistent link: https://www.econbiz.de/10009411343
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Follow the money : compensation, risk, and the financial crisis
Larcker, David F.; Ormazabal, Gaizka; Tayan, Brian; … - 2014
This Closer Look illustrates the relation between executive compensation and organizational risk through the context of the financial crisis of 2008. We demonstrate that the incentives that bankers had to increase firm risk not only increased but increased substantially in the years preceding...
Persistent link: https://www.econbiz.de/10011524459