Ditapis dengan
Interbank Liquidity Crunch and the Firm Credit Crunch: Evidence from the 2007…
We study the credit supply effects of the unexpected freeze of the European interbank market, using exhaustive Portuguese loan-level data. We find that banks that rely more on interbank borrowing before the crisis decrease their credit supply more during the crisis. The credit supply reduction is stronger for firms that are smaller, with weaker banking relationships. Small firms cannot compensa…
- Edisi
- Vol. 27 No. 1, Jan 2014
- ISBN/ISSN
- 1465-7368
- Deskripsi Fisik
- 372 p.
- Judul Seri
- The Review of Financial Studies
- No. Panggil
- RFS2701
The Consequences of Entrepreneurial Finance: Evidence from Angel Financings
This article documents the fact that ventures funded by two successful angel groups experience superior outcomes to rejected ventures: They have improved survival, exits, employment, patenting, Web traffic, and financing. We use strong discontinuities in angel- funding behavior over small changes in their collective interest levels to implement a regression discontinuity approach. We confirm th…
- Edisi
- Vol. 27 No. 1, Jan 2014
- ISBN/ISSN
- 1465-7368
- Deskripsi Fisik
- 372 p.
- Judul Seri
- The Review of Financial Studies
- No. Panggil
- RFS2701
Interbank liquidity crunch and the firm vredit crunch : evidence from the 200…
We study the credit supply effects of the unexpected freeze of the European interbank market, using exhaustive Portuguese loan-level data. We find that banks that rely more on interbank borrowing before the crisis decrease their credit supply more during the crisis. The credit supply reduction is stronger for firms that are smaller, with weaker banking relationships. Small firms cannot compensa…
- Edisi
- -
- ISBN/ISSN
- 8939454
- Deskripsi Fisik
- -
- Judul Seri
- -
- No. Panggil
- TRFS2701
The consequences of enterpreneurial finance : evidence from Angel Financings
This article documents the fact that ventures funded by two successful angel groups experience superior outcomes to rejected ventures: They have improved survival, exits, employment, patenting, Web traffic, and financing. We use strong discontinuities in angel- funding behavior over small changes in their collective interest levels to implement a regression discontinuity approach. We confirm th…
- Edisi
- -
- ISBN/ISSN
- 8939454
- Deskripsi Fisik
- -
- Judul Seri
- -
- No. Panggil
- TRFS2701
The Contributions of Stewart Myers to the theory and practice of corporate fi…
ABSTRACT In a 40-plus year career notable for path-breaking work on capital structure and innovations in capital budgeting and valuation, MIT finance professor Stewart Myers has had a remarkable influence on both the theory and practice of corporate finance. In this article, two of his former students, a colleague, and a co-author offer a brief survey of Professor Myers's accomplishments, along…
- Edisi
- -
- ISBN/ISSN
- 10781196
- Deskripsi Fisik
- -
- Judul Seri
- -
- No. Panggil
- -
Smart institutions, foolish choices: the limited partner performance puzzle
The returns that institutional investors realize from private equity differ dramatically across institutions. Using detailed, hitherto unexplored records, we document large heterogeneity in the performance of investor classes: endowments' annual returns are nearly 21% greater than average. Analysis of reinvestment decisions suggests that endowments (and to a lesser extent, public pensions) are …
- Edisi
- -
- ISBN/ISSN
- 221082
- Deskripsi Fisik
- -
- Judul Seri
- -
- No. Panggil
- -
Banking deregulation and industry structure: evidence from the french banking…
We investigate how the deregulation of the French banking industry in the 1980s affected the real behavior of firms and the structure and dynamics of product markets. Following deregulation, banks are less willing to bail out poorly performing firms and firms in the more bank-dependent sectors are more likely to undertake restructuring activities. At the industry level, we observe an increase i…
- Edisi
- -
- ISBN/ISSN
- 221082
- Deskripsi Fisik
- -
- Judul Seri
- -
- No. Panggil
- -
Effects of corporate diversification on productivity
Using plant-level observations from the longitudinal research database i show that conglomerates are more productive than stand-alone firms at a given point in time. Dynamically, however, firms that diversify experience a net reduction in productivity. While the acquired plants increase productivity, incumbent plants suffer. Moreover, stock prices track firm productivity and this tracking is eq…
- Edisi
- -
- ISBN/ISSN
- 00221082
- Deskripsi Fisik
- -
- Judul Seri
- -
- No. Panggil
- -
Private equity performance : returns, persistence, and capital flows
This paper investigates the performance and capital in flows of private equity partnerships. Average fund returns (net of fees) approximately equal the S & P 500 although substantial heterogeneity across funds exists. Returns persist strongly across subsequent funds of a partnership. Better performing partnership are more likely to raise follow-on funds and larger funds. This relationship is co…
- Edisi
- -
- ISBN/ISSN
- 00221082
- Deskripsi Fisik
- -
- Judul Seri
- -
- No. Panggil
- -
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