Essays about: "Financing frictions"

Found 4 essays containing the words Financing frictions.

1. 1. The Momentum Premium: An Intermediary Asset Pricing Perspective

   University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

   Author : Simon Eliasson; David Öhlund; [2021]
   Keywords : Momentum; Intermediary Asset Pricing; Time-Varying Risk;

   Abstract : We attempt to explain the momentum premium using time-varying risk under the frictions of financial intermediation. Our conditional CAPM model reveals positive covariation between momentum's beta and the expected market risk premium. READ MORE

3. 2. Using FAVAR Model to Test the Credit Channel Monetary Policy Transmission Mechanism in Long-term Credit Cycle

   University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

   Author : Zhihao Fu; [2020]
   Keywords : Monetary policy transmission mechanism; enterprise balance sheet channel; bank credit channel; FAVAR model; VAR model;

   Abstract : In this paper, based on the FAVAR model created by Ben Bernanke, 115 groups of economic variables' data from January 1959 to December 2014 were selected for the empirical analysis. From January 1959 to August 2008, the fed funds rate was used to work as the indicator of the monetary policy. READ MORE

4. 3. Financing frictions: Collateral and its Effect on Firm Investment in Europe

   University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

   Author : Johan Möller; Frej Andreassen; [2013]
   Keywords : Collateral; Credit rationing; Firm investment; Financing frictions; Real estate;

   Abstract : This thesis examines financing frictions in the European market by investigating how exogenous variation in firms' collateral through real estate value variation affects firm investment. Using a nine years dataset on European firms, we conclude that the collateral channel effect is as prominent in Europe as the one found in USA by other authors. READ MORE

5. 4. The Value of Non-Financial Factors in Business Failure Prediction: A Study of Swedish Small and Medium-Sized Enterprises

   University essay from Handelshögskolan i Stockholm/Institutionen för redovisning och finansiering

   Author : Olof Kernell; Johan Wallin; [2011]
   Keywords : Business Failure Prediction; SMEs; Non-Financial Variables; Auditor;

   Abstract : Access to financing is frequently listed as a top concern among Europe's small and medium-sized companies. Accounting for two-thirds of Europe's aggregated gross domestic product, their ability to finance new initiatives is going to have a large impact on the overall economic development within the region. READ MORE