語系:
繁體中文
English
說明(常見問題)
登入
回首頁
切換:
標籤
|
MARC模式
|
ISBD
Essays in corporate finance.
~
University of Maryland, College Park.
Essays in corporate finance.
紀錄類型:
書目-語言資料,手稿 : Monograph/item
正題名/作者:
Essays in corporate finance./
作者:
Duquerroy, Anne.
面頁冊數:
1 online resource (199 pages)
附註:
Source: Dissertation Abstracts International, Volume: 78-07(E), Section: A.
Contained By:
Dissertation Abstracts International78-07A(E).
標題:
Finance. -
電子資源:
click for full text (PQDT)
ISBN:
9781369541229
Essays in corporate finance.
Duquerroy, Anne.
Essays in corporate finance.
- 1 online resource (199 pages)
Source: Dissertation Abstracts International, Volume: 78-07(E), Section: A.
Thesis (Ph.D.)--University of Maryland, College Park, 2017.
Includes bibliographical references
This dissertation presents two essays in Corporate Finance. In the first essay, I study how political institutions affect corporate investment through the policy uncertainty channel. I examine investment response to changes in the ability of the governing party to implement its political agenda due to checks and balances. I use US gubernatorial elections from 1978 to 2010 and a regression discontinuity design to estimate the causal effects of giving a single party full versus split control over a state government. I find that shifts from a divided to a unified government depress investment and job creation. Investment drops by an average of 3 to 5 percent in the year after the election giving a single party control of the government. The effect is not limited to public firms, is stronger for firms operating in a single state and firms with more irreversible investment. The findings support the hypothesis that moving from divided to unified government translates into policy uncertainty, which in turn affects the investment and employment cycles.
Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2018
Mode of access: World Wide Web
ISBN: 9781369541229Subjects--Topical Terms:
559073
Finance.
Index Terms--Genre/Form:
554714
Electronic books.
Essays in corporate finance.
LDR
:03353ntm a2200349Ki 4500
001
919076
005
20181116131019.5
006
m o u
007
cr mn||||a|a||
008
190606s2017 xx obm 000 0 eng d
020
$a
9781369541229
035
$a
(MiAaPQ)AAI10241942
035
$a
(MiAaPQ)umd:17658
035
$a
AAI10241942
040
$a
MiAaPQ
$b
eng
$c
MiAaPQ
$d
NTU
100
1
$a
Duquerroy, Anne.
$3
1193559
245
1 0
$a
Essays in corporate finance.
264
0
$c
2017
300
$a
1 online resource (199 pages)
336
$a
text
$b
txt
$2
rdacontent
337
$a
computer
$b
c
$2
rdamedia
338
$a
online resource
$b
cr
$2
rdacarrier
500
$a
Source: Dissertation Abstracts International, Volume: 78-07(E), Section: A.
500
$a
Adviser: Michael W. Faulkender.
502
$a
Thesis (Ph.D.)--University of Maryland, College Park, 2017.
504
$a
Includes bibliographical references
520
$a
This dissertation presents two essays in Corporate Finance. In the first essay, I study how political institutions affect corporate investment through the policy uncertainty channel. I examine investment response to changes in the ability of the governing party to implement its political agenda due to checks and balances. I use US gubernatorial elections from 1978 to 2010 and a regression discontinuity design to estimate the causal effects of giving a single party full versus split control over a state government. I find that shifts from a divided to a unified government depress investment and job creation. Investment drops by an average of 3 to 5 percent in the year after the election giving a single party control of the government. The effect is not limited to public firms, is stronger for firms operating in a single state and firms with more irreversible investment. The findings support the hypothesis that moving from divided to unified government translates into policy uncertainty, which in turn affects the investment and employment cycles.
520
$a
The second essay is joint with William Mullins and Christophe Cahn. How to support private lending to SMEs during aggregate contractions is a crucial but still open policy question. This paper exploits an unexpected drop in 2012 in the cost of funding bank loans to some firms but not others in France to uncover how banks adjust their SME lending portfolios in a crisis. The cost reduction causes bank debt to rise and payment defaults with suppliers to fall, providing evidence that funding cost can be an effective policy lever. The effect is driven by firms with only one bank relationship, a numerous but understudied group. The size of the effect varies, with additional credit flowing to firms with stronger observables, to high growth firms, to firms with high demand, and to firms with a deeper banking relationship. Further, a richer relationship appears to substitute for stronger observables in the lending decision. Finally, we provide suggestive evidence that, compared to multi-bank firms, single bank firms are particularly credit constrained in crisis periods.
533
$a
Electronic reproduction.
$b
Ann Arbor, Mich. :
$c
ProQuest,
$d
2018
538
$a
Mode of access: World Wide Web
650
4
$a
Finance.
$3
559073
650
4
$a
Economic theory.
$3
809881
655
7
$a
Electronic books.
$2
local
$3
554714
690
$a
0508
690
$a
0511
710
2
$a
ProQuest Information and Learning Co.
$3
1178819
710
2
$a
University of Maryland, College Park.
$b
Finance.
$3
1193560
773
0
$t
Dissertation Abstracts International
$g
78-07A(E).
856
4 0
$u
http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=10241942
$z
click for full text (PQDT)
筆 0 讀者評論
多媒體
評論
新增評論
分享你的心得
Export
取書館別
處理中
...
變更密碼[密碼必須為2種組合(英文和數字)及長度為10碼以上]
登入