The impact of recent financial shocks on the financing and investment policies of UK private firms

Akbar, Saeed; Rehman, Shafiq Ur; Ormrod, Phillip

doi:10.1016/j.irfa.2012.05.004

Cited by 84 publications

(92 citation statements)

References 87 publications

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“…This implies that liquidity and financing become bigger concerns as the economic outlook worsens. Both results are in agreement with evidence provided by Akbar et al (2013). This finding proves the rationale for debt frontloading documented by Ivashina and Scharfstein (2010) and Campello et al (2011), providing evidence of heavy credit line drawdowns at the onset of the financial crisis due to concerns among firms about the ability of banks to provide liquidity, which might lead to temporary credit being taken beyond the optimal amount for investment.…”

Section: Resultssupporting

confidence: 88%

Company Performance, Investment Decision, and Cyclical Sensitivity: A Dynamic Estimation on Company Microdata

Männasoo

Maripuu

2015

Eastern European Economics

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Section: Resultssupporting

confidence: 88%

Company Performance, Investment Decision, and Cyclical Sensitivity: A Dynamic Estimation on Company Microdata

Männasoo

Maripuu

2015

Eastern European Economics

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“…Their findings suggest that a negative impact of 1994 crisis on the leverage ratio. The studies of Pattani and Vera (2011) and Akbar, Rehman, and Ormrod (2013) are given the same result during 2007-2009 financial crisis, in which UK firms held more cash and issue more equity.…”

Section: Determinants Of Capital Structurementioning

confidence: 68%

Effects of Financial Crisis on Capital Structure of Listed Firms in Vietnam

Trinh¹,

Phuong²

2015

International Journal of Financial Research

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This paper investigates effects of financial crisis on capital structure of listed firms in Vietnam. Regression models on the relation between the leverage and firm size, growth, profitability, tangibility, together with crisis dummies is built based on a sample of 265 firms listed on HNX and HOSE for the period of 2006-2013. The empirical result indicates that firm size, profitability, and tangibility have statistically significant impacts on capital structure. The growth is not statistically significant in explaining the variance of the leverage. The study result also reveals that capital structure of Vietnamese listed firms has not changed significantly under the financial crisis.

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“…It can be assumed that loans are used for consumption, which is again one of the components of GDP and has proven effect; and, as described in Gros (2014), consumption is more significant than investment. Conversely, Akbar et al (2013) find a relationship between credit supply and business performance and investment. The relationship between GDP and the volume of loans and investments of non-financial institutions is also evident in other European Union countries, and this assumption can be generalized, thus confirming the economic theory predicting this relationship, but also between banks and companies (Braggion and Ongena 2013;Amore et al 2013;Dwenger et al 2015).…”

Section: Discussionmentioning

confidence: 87%

Homogeneity of Determinants in the Financial Sector and Investment in EU Countries

Urbánková

Krizek

2020

Economies

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This paper evaluates the homogeneity of the financial markets in European Union (EU) countries and the impact of determinants of the financial sector in individual EU countries on the investment by economic entities in the given countries. The objective of the paper is to evaluate the homogeneity of financial sectors in EU countries in terms of individual indicators. The paper also evaluates the interdependence between the loan amount (debt and liabilities of the financial sector) on one side and the selected investments on the other. This paper uses the statistical method of correlation analysis to determine the strength and closeness of dependence among indicators, and the multidimensional statistical method of cluster analysis to determine the homogeneity among the individual countries. The results show that, in terms of financial markets, there is still a difference between developed countries in terms of Gross Domestic Product and the rest of the EU Member States. However, in the case of investment activity that is no longer. Partial integration therefore takes place within the EU, in terms of financial markets.

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The impact of recent financial shocks on the financing and investment policies of UK private firms

Cited by 84 publications

References 87 publications

Company Performance, Investment Decision, and Cyclical Sensitivity: A Dynamic Estimation on Company Microdata

Company Performance, Investment Decision, and Cyclical Sensitivity: A Dynamic Estimation on Company Microdata

Effects of Financial Crisis on Capital Structure of Listed Firms in Vietnam

Homogeneity of Determinants in the Financial Sector and Investment in EU Countries

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