We use the August 2007 crisis episode to gauge the causal effect of financial contracting on real firm behavior. We identify heterogeneity in financial contracting at the onset of the crisis by exploiting ex-ante variation in long-term debt maturity structure. Using a difference-in-differences matching estimator approach, we find that firms whose long-term debt was largely maturing right after ...

When companies are faced with an upcoming and expected economic shock some of them tend to react better than others. They adapt by initiating investments thus successfully weathering the storm, while others, even though they possess the same information set, fail to adopt the same business strategy and eventually succumb to the crisis. We use a unique setting of the recent financial crisis in C...

“What can we do to solve the software crisis?”: this question is always present when we read an article about the software production mechanisms or when we hear a conference on software development issues. But is it true? Is this the right question? Software industry is still young, but it has undergone an incredible growth. Nowadays computers mark our daily life and software applications suppo...

This paper provides a unified analysis for the onset of the 1998 financial crisis and the strong economic recovery afterward in Russia and other former Soviet Union countries. Before the crisis a banking failure arose owing to the coexistence of a lemons credit market and high government borrowing. In a lemons credit market low credit risk firms switched from bank to nonbank finance, including ...

in recent years, innovation and its related issues as succeeding factors in business and also a way to enter the international markets are much taken into consideration. how innovation is created in organizations /companies and basically what processes are followed in order to present a new product to the market are significant aspects of innovation which are taken into account. in this paper, ...

This paper investigates empirically the main determinants of firm competitiveness under conditions of economic turmoil, with the use of panel data techniques. The study is based on firm-level financial data of 693 firms from the high and medium technology manufacturing sectors in Greece, and covers the time period 1996-2011, distinguishing between the pre-crisis (1996-2007) and the post-crisis ...

Bank privatization and tighter credit enforcement are believed indispensable to facilitate the Eastern European transition process. We analyze lending by value-maximizing banks, the only source of capital in the transition, faced by non-performing loans to the state-owned sector. We show that banks have a perverse incentive to fund former debtors, although less efficient and more risky, because...

This study intended to examine how company turnover was measured in Indonesian stock real estate markets and companies 2019-2020. The logistic regression analysis of assets retrenchment, expense free assets, size adopted for the quantify corporate turnaround. There were 76 firms involved property, according Indonesia Stock Exchange. Only 56 property out that total satisfy requirements or eligib...