A common perspective in macro-finance analyses links firms’ borrowing constraints to the liquidation value of physical assets firms pledge as collateral. We empirically investigate borrowing by non-financial firms in the US. We find that 20% of corporate debt by value is collateralized by specific physical assets (“asset-based lending” in creditor parlance), while 80% is based predominantly on ...

In this paper we consider various perspectives on loanword phonology by examining the borrowing into Korean of English words having a word-final /s/. These have been borrowed into Korean with a tense [ ] followed by an epenthetic vowel, as illustrated by the borrowing of English bus as [ 3 ]. The realization of English word-final /s/ as [ ] is apparently unexpected given that English [s] and Ko...

the present article studies the history of the related lexicon and the influence way of these lexicons to the arabic language in different eras before and after islam to the contemporary era. the arabian people were from different tribes who have connected to all neighbor nations because of the economic, political, religious and cultural reasons and factors. at that very time the arabian people...

Based on data from nine Asian markets, this study investigates the relationship between bank concentration and the borrowing cost risk of firms. Over the study period, the concentration of banks increased in the developed countries and decreased in developing countries. After the 2007– 2008 financial crisis, the borrowing cost risk increased in both the developed and developing economies. The e...

This paper studies the evolution of wealth inequality in an economy with endogenous borrowing constraints. In the model economy, agents need to borrow to finance human capital investments but cannot commit to repaying their loans. Creditors can punish defaulters by banishing them permanently from the credit market. In equilibrium, loan default is prevented by imposing a borrowing limit tied to ...