Recapitalizing banks in a systemic crisis is a complex medium-term process that requires significant government …

We address how lending market competition, measured by banks bargaining power, affects the agency costs of debt finance … and less risky returns. Hence increased lending market competition reduces the agency cost of debt financing. Our analysis … costs of debt finance. …

We address the question of how lending market competition, measured by the bargaining power of banks, affects the … agency costs of debt finance. It is shown that intensified lending market competition will lead to lower lending rates and … lending market competition will reduce the agency cost of debt financing. …

perspective that money, credit and debt do not matter for the macroeconomy; (2) the neoclassical insistence that the economy …

market financing, debt or equity financing - seems to be particularly harmful or beneficial for growth. …

to firing costs. Our main finding, however, is that firms that restructure their debt in response to distress are more …