منابع مشابه
Firm Risk and Leverage-Based Business Cycles
I characterize cyclical fluctuations in the cross-sectional dispersion of firm-level productivity. Using the micro-estimated dispersion, or “risk,” stochastic process as an input to a baseline DSGE financial accelerator model, I assess how well the model reproduces cyclical movements in both real and financial conditions of the economy. In the model, risk shocks calibrated to micro data lead to...
متن کاملFactors that Influence Financial Leverage of Small Business Firms in India
The purpose of this study is to examine the factors that influence financial leverage of small business firms in India. This study also seeks to extend the findings of Michaelas et al. (1999). Small business owners from Punjab area of India were surveyed in order to gather information. Subjects were asked about their perceptions, beliefs, and feelings regarding the factors that influence financ...
متن کاملProfitability Relationship: Testing Temporal Stability Across Business Cycles
We also thank Kunal Sadhu for his assistance with the collection of macroeconomic statistics; and Lucien Van Elsen for his help in data analysis. John Grant read previous versions and gave valuable comments, but the usual disclaimer applies. Summary Several studies have demonstrated a generally positive association between market share (MS) and business profitability (BP), and that this relatio...
متن کاملWages and unemployment across business cycles: A high-frequency investigation
This paper investigates the change in wages associated with a spell of unemployment. The novelty lies in using monthly data from the Survey of Income and Program Participation (SIPP) to analyze the dynamics of those wage changes across different business cycles. The level of education or the sector of re-employment affects the change in wages following an unemployment spell differently across d...
متن کاملDeviation from Target Leverage and Leverage Adjustment Speed in Firms with Small Positive Earnings
This study investigates whether deviation from target leverage (leverage adjustment speed) in firms with small positive earnings (i.e., SPOS) is higher (slower) than that of other firms. We find evidence suggesting that managers of SPOS manipulate sales, production processes, and discretionary expenses to avoid reporting losses. Our results show that deviation from target leverage in SPOS is hi...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2020
ISSN: 1556-5068
DOI: 10.2139/ssrn.3826428