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to argue that there is a scarcity of safe assets. In this vein, a recent Global Financial Stability. ... chennessy@london.edu. We thank seminar participants at Toulouse School of Economics, the Bachelier Seminar, Uni-.

of debt and equity as well as a characterization of corporate financial policy that can. ... the economic value of the productive asset under financial constraints. Indeed, under MM,.

information at the onset of the firm’s financial distress. This result is consistent with empirical. ... While this intuition is helpful in explaining the liquidity of debt contracts in financial inter-.

Wealso have benefited from comments from seminar participants at Georgetown economics department, theannual meeting of the Society for Economic Dynamics, at the CEPR Summer Meetings Gerzensee, theSummer Finance Conference at IDC ... economics and finance

follow-on round of financing. Non-pursued certification would send a negative signal. ... the value of securities issued by relatively unknown firms.3Empirical studies provide evidence that venture capital backed firms are indeed viewed by financial.

on the dominance of early investors. Our work also touches upon the discussion of whether long-term financial contracts can help. ... round. One of the key insights of our paper is that both financial claims, S1 and S2, determine to what.

Erwan Morellec acknowledges financial support from the Swiss Finance Institute.†Toulouse School of Economics.‡Erasmus University Rotterdam.Swiss Finance Institute, EPFL, and CEPR.Toulouse School of Economics. ... mainstream literature in financial

unobservable to empiricists, theoretical analysis of what form of governance. disciplines the manager can enhance our understanding of how financial mar-. ... captures the degree of A’s dependence on financial markets. High (α ϕ).

26 Jun 2023: j.chu@jbs.cam.ac.uk. Xi Li. London School of Economics and Political Science. xi.li@lse.ac.uk. ... School of Economics, University of Portsmouth, Rutgers University, Bocconi University, RCN,.

different from adding financial slack, i.e. liquid securities (such as Treasury bills) on which. ... portfolio is different from adding financial slack, i.e. liquid securities (such as Treasury bills).