Showing 1 - 10 of 52
The literature on corporate governance and entrepreneurial finance suggests that when lender–borrower relationships are of longer duration, they tend to be more successful in solving the informational asymmetry problems related to small business debt financing. Using the data from Canadian...
Persistent link: https://www.econbiz.de/10011117762
In this paper, we observe the preferential characteristics of mutual fund managers when investing in Latin America. The main objective was checking the hypothesis that foreign managers prefer companies with characteristics that amplify its visibility, in other words, that reduce information...
Persistent link: https://www.econbiz.de/10010595130
This study examines whether the ‘managerial entrenchment’ problem resulting from the separation of ownership and control between the shareholders and managers of Chinese firms motivates the decision to purchase property insurance. Managerial entrenchment is measured using a principal...
Persistent link: https://www.econbiz.de/10010595134
This study examines the role played by credit ratings in explaining corporate capital structure choice during a period characterised by a major adverse loan supply shock. Recent literature has argued that supply-side factors are potentially as important as demand-side forces in determining...
Persistent link: https://www.econbiz.de/10010603431
We employ dynamic threshold partial adjustment models to study the asymmetries in firms' adjustments toward their target leverage. Using a sample of US firms over the period 2002–2012, we document a negative impact of the Global Financial Crisis on the speed of leverage adjustment. In our...
Persistent link: https://www.econbiz.de/10010786509
We provide one of the first large sample studies to examine how firm-level characteristics and national-level institutions affect cash balances in privately held and publicly traded firms and investigate whether the determinants of cash holdings for both types of firms are similar. Using panel...
Persistent link: https://www.econbiz.de/10010786523
This paper investigates the impact of corporate risk levels on aggregated, voluntary and mandatory risk disclosures in the annual report narratives of UK non-financial listed companies. We find that firms characterised by higher levels of systematic, financing risks and risk-adjusted returns and...
Persistent link: https://www.econbiz.de/10010730269
The 2007/2008 global financial crisis has reignited the debate regarding the need for effective corporate governance (CG) through sound risk management and reporting practices. This paper, therefore, examines the crucial policy question of whether the quality of firm-level CG has any effect on...
Persistent link: https://www.econbiz.de/10010730272
This paper examines why some firms have no debt in their capital structures despite the potential benefits of debt financing. It adds new insights to this zero-leverage phenomenon by addressing two unexplored questions: Does a firm have zero leverage as a consequence of financial constraints or...
Persistent link: https://www.econbiz.de/10010730279
This paper investigates the direct and joint effects of bank governance, regulation, and supervision on the quality of risk reporting in the banking industry, as proxied for by operational risk disclosure (ORD) quality in European banks. After controlling for the endogeneity between bank...
Persistent link: https://www.econbiz.de/10010730281