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  1. The effects of credit lines on cash holdings and capital investment
    evidence from Japan
    Published: March 2022
    Publisher:  The Research Center for Economic and Social Risks, Tokyo, Japan

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    VS 345
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10086/73380
    Series: RCESR discussion paper series ; no. DP 22, 2
    Subjects: Credit lines; Cash holdings; Corporate investment; Financial constraints
    Scope: 1 Online-Ressource (circa 32 Seiten), Illustrationen
  2. Corporate discount rates
    Published: 16 June 2023
    Publisher:  Centre for Economic Policy Research, London

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    Verlag (lizenzpflichtig)
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    LZ 161
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    Universitätsbibliothek Mannheim
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Array ; DP18221
    Subjects: Diskontierung; Kapitalkosten; Kapitaleinkommen; Betriebliche Investitionstheorie; Corporate investment; Discount rate; Cost of capital; required return to capital; marketpower; Risk
    Scope: 1 Online-Ressource (circa 85 Seiten), Illustrationen
  3. Zombies on the brink
    evidence from Japan on the reversal of monetary policy effectiveness
    Published: February 2021
    Publisher:  International Monetary Fund, [Washington, DC]

    How does unconventional monetary policy affect corporate capital structure and investment decisions? We study the transmission channel of quantitative easing and its potential diminishing returns on investment from a corporate finance perspective.... more

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    Staatsbibliothek zu Berlin - Preußischer Kulturbesitz, Haus Unter den Linden
    Unlimited inter-library loan, copies and loan

     

    How does unconventional monetary policy affect corporate capital structure and investment decisions? We study the transmission channel of quantitative easing and its potential diminishing returns on investment from a corporate finance perspective. Using a rich bank-firm matched data of Japanese firms with information on corporate debt and investment, we study how firms adjust their capital structure in response to the changes in term premia. Investment responds positively to a reduction in the term premium on average. However, there is a significant degree of cross-sectional variation in firm response: healthier firms increase capital spending and cash holdings, while financially vulnerable firms take advantage of lower long-term yields to refinance without increasing investment

     

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    Source: Staatsbibliothek zu Berlin
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9781513570037
    Other identifier:
    Series: IMF working paper ; WP/21, 44
    Subjects: Transmission of unconventional monetary policy; Quantitative easing; Reversal rate; Zombie firms; Corporate balance sheet; Term premium; Corporate investment
    Scope: 1 Online-Ressource (circa 42 Seiten), Illustrationen
  4. How do firms cope with losses from extreme weather events?
    Published: July 2022
    Publisher:  European Investment Bank, Luxembourg

    We document the investment and financing decisions of firms that experience monetary losses due to extreme weather events. Our sample covers firms operating in 41 economies, mainly emerging and developing markets. Consistent with the need to either... more

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    DS 429
    No inter-library loan

     

    We document the investment and financing decisions of firms that experience monetary losses due to extreme weather events. Our sample covers firms operating in 41 economies, mainly emerging and developing markets. Consistent with the need to either replenish damaged capital or to adapt to climate change, firms hit by extreme weather are more likely to invest in long-term assets. In addition, they are more likely to integrate climate-friendly measures in their production processes. Although these firms have higher needs for bank credit, they are not more likely to be credit constrained than the average firm. Nonetheless, they face higher loan rejection rates and they are more leveraged than otherwise comparable firms. This suggests that climate change has the potential to erode the quality of firm balance sheets over time.

     

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    Source: Union catalogues
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9789286153730
    Other identifier:
    hdl: 10419/261495
    Series: Economics - working papers ; 2022, 10
    Subjects: Physical climate risk; Extreme weather; Access to credit; Corporate investment
    Scope: 1 Online-Ressource (circa 44 Seiten), Illustrationen
  5. Zombies on the brink: evidence from Japan on the reversal of monetary policy effectiveness
    Published: 2022
    Publisher:  Bank for International Settlements, Monetary and Economic Department, [Basel]

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    Verlag (kostenfrei)
    Verlag (kostenfrei)
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    VS 546
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: BIS working papers ; no 987 (January 2022)
    Subjects: Transmission of unconventional monetary policy; Quantitative easing; Reversal rate; Zombie firms; Corporate balance sheet; Term premium; Corporate investment
    Scope: 1 Online-Ressource (circa 41 Seiten), Illustrationen
  6. Zombies on the brink
    evidence from Japan on the reversal of monetary policy effectiveness
    Published: February 2021
    Publisher:  International Monetary Fund, [Washington, DC]

    How does unconventional monetary policy affect corporate capital structure and investment decisions? We study the transmission channel of quantitative easing and its potential diminishing returns on investment from a corporate finance perspective.... more

    Access:
    Verlag (kostenfrei)
    Verlag (kostenfrei)
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    Staatsbibliothek zu Berlin - Preußischer Kulturbesitz, Haus Potsdamer Straße
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    Universitätsbibliothek Braunschweig
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    Staats- und Universitätsbibliothek Bremen
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    Universitätsbibliothek Erfurt / Forschungsbibliothek Gotha, Universitätsbibliothek Erfurt
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    Bibliothek der Pädagogischen Hochschule Freiburg/Breisgau
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    Niedersächsische Staats- und Universitätsbibliothek Göttingen
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    Universitäts- und Landesbibliothek Sachsen-Anhalt / Zentrale
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    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
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    Technische Universität Hamburg, Universitätsbibliothek
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    Technische Informationsbibliothek (TIB) / Leibniz-Informationszentrum Technik und Naturwissenschaften und Universitätsbibliothek
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    Duale Hochschule Baden-Württemberg Heidenheim, Bibliothek
    e-Book Nationallizenz
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    Fachhochschule Kiel, Zentralbibliothek
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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    VS 301
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    Universitätsbibliothek Leipzig
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    Leuphana Universität Lüneburg, Medien- und Informationszentrum, Universitätsbibliothek
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    Duale Hochschule Baden-Württemberg Mosbach, Bibliothek
    E-Book Nationallizenz IMF
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    Hochschule Offenburg, University of Applied Sciences, Bibliothek Campus Offenburg
    E-Book International Monetary Fund
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    Hochschulbibliothek Pforzheim, Bereichsbibliothek Technik und Wirtschaft
    e-Book International Monetary Fund eLibrary
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    Duale Hochschule Baden-Württemberg Ravensburg, Bibliothek
    E-Book IMF
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    Hochschule Albstadt-Sigmaringen, Bibliothek Sigmaringen
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    How does unconventional monetary policy affect corporate capital structure and investment decisions? We study the transmission channel of quantitative easing and its potential diminishing returns on investment from a corporate finance perspective. Using a rich bank-firm matched data of Japanese firms with information on corporate debt and investment, we study how firms adjust their capital structure in response to the changes in term premia. Investment responds positively to a reduction in the term premium on average. However, there is a significant degree of cross-sectional variation in firm response: healthier firms increase capital spending and cash holdings, while financially vulnerable firms take advantage of lower long-term yields to refinance without increasing investment

     

    Export to reference management software   RIS file
      BibTeX file
    Source: Staatsbibliothek zu Berlin
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9781513570037
    Other identifier:
    Series: IMF working paper ; WP/21, 44
    Subjects: Transmission of unconventional monetary policy; Quantitative easing; Reversal rate; Zombie firms; Corporate balance sheet; Term premium; Corporate investment
    Scope: 1 Online-Ressource (circa 42 Seiten), Illustrationen