Firm-Level Risk Factors
Corporate Credit Risk Changes: Common Factors and Firm-Level Fundamentals
... It should be noted that our sample period, 1990 to 2003, has witnessed many central bank actions in response to major credit events. 4 For example, the early 1990s are characterized by Fed easing to bail out troubled ...
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Firm Characteristics, Consumption Risk, and Firm-Level Risk Exposures
... Abstract Firm-level risk exposures and costs of equity are notoriously difficult to ...consumption risk exposures to firm characteristics, we combine the traditional ...
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Firm-level and Country-level factors on leverage ratio
... including risk of bankruptcy, higher cost of debt, and financial ...higher risk of lending, either have a higher cost of debt for their debt financing, or may prefer equity financing as an alternative for ...
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Internet Appendix for Firm Level Productivity, Risk, and Return
... demand factors can be important in understanding industry dynamics and ...demand factors require data on producers’physical outputs as well as product prices, which are not available at the …rm ...
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Cross–Sectoral Variation in Firm–Level Idiosyncratic Risk
... estimate firm–level idiosyncratic risk in the ...for risk is the volatility of the portion of growth in sales or TFP which is not explained by either industry– or economy–wide factors, ...
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Does derivative usage affect firm-level risk?
... 469 firm/year observations comprised of largest Australian non-financial companies listed on the Australian Stock Exchange during 1999 and ...the factors that affect the decision to use derivatives, but ...
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Understanding early-stage firm performance: The explanatory role of individual and firm level factors
... and firm specific factors that may affect start-up chances of survival and ...specific firm-level factors. The individual-level constructs we examine include the internal ...
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Determinant Factors of Firm Leverage: An Empirical Analysis at Iasi County Level
... high level of the indicator shows an increased risk of variation of future earnings; therefore, decision-makers – seeking to retain control – and creditors – concerned with the risk of financial ...
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Fair Value Measurement Under Level 2 Inputs: Do Market and Transaction Multiples Catch Firm-Specific Risk Factors?
... Along the same lines, Palea and Maino (2013) compared the “real” fair value of a company (the market capitalization, that is the price paid on the market for that precise asset at the measurement moment) with the fair ...
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Credit Risk Drivers: Evaluating the Contribution of Firm Level Information and of Macroeconomic Dynamics
... credit risk is driven mostly by idiosyncratic firm characteristics or by systematic factors, which simultaneously affect all ...credit risk and macroeconomic devel- opments at an aggregate ...
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Impact of Liquidity Risk on Firm Specific Factors. A Case of Islamic Banks of Pakistan
... positive risk premium theory and liquidity risk theory, states that as the marginal level of risk rises ultimately proportionate of return and firm performance also ...
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Firm Size As Company s Characteristic and Level of Risk Disclosure: Review on Theories and Literatures
... between firm size and the level of transparency is said to be ...of risk disclosure and firm size factors based on various theories propagated by various researchers and also by various ...
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Spatial factors and the employment of blacks at the firm level
... spatial factors to affect the employment of blacks primarily through the racial composition of applicants to firms, and these results suggest that a large fraction of the estimated effects of proximity to public ...
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Industry hedging level and firm risk management
... 10-K disclosures. Means, medians, and standard deviations are reported. Panel A provides firm characteristics data on 152 large caps firms in the S&P 500 Large-Cap Index. Panel B pr[r] ...
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Cross-sectoral variation in firm-level idiosyncratic risk
... idiosyncratic risk emerges when we measure risk as the volatility of TFP ...idiosyncratic risk because swings in a firm’s sales depend not only on the shocks which size we are interested in ...
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Firm Level Factors Affecting Liquidity – The Swedish Stock Market
... systematic factors (non-firm-adjustable) and firm-adjustable ...Systematic factors concern such factors that cannot be affected by an individual firm which are due to ...
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Macroeconomic factors and micro-level bank risk
... macro factors and banking ...the risk-taking channel regress bank-level loans or risk on the monetary policy interest rate, GDP growth, or asset prices which are, in general, driven by a ...
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Macroeconomic Factors and Micro-Level Bank Risk
... as risk, we allow for differences across banks both with regard to the cyclical adjustment as well as the long-run structural ...and risk in response to macroeconomic shocks in a systematically different ...
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Financial Factors and Manufacturing Exports:Theory and Firm-level Evidence From Egypt
... Moreover, we analyze the sensitivity of this finding in several steps. First, we consider an alternative measure of financial constraints. According to regression (2), the lagged liquidity score has a positive and ...
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Firm level factors that affect returns to real estate investment trusts
... The first step in that exploration was to define a universe of firms to be the subject of analysis. The general intent of this thesis is to examine securities that were issue[r] ...
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