The Cyclical Behavior of Debt and Equity Finance
Author
Abstract
Suggested Citation
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Gilchrist, Simon & Himmelberg, Charles P., 1995.
"Evidence on the role of cash flow for investment,"
Journal of Monetary Economics, Elsevier, vol. 36(3), pages 541-572, December.
- Simon Gilchrist & Charles P. Himmelberg, 1993. "Evidence on the role of cash flow for investment," Finance and Economics Discussion Series 93-7, Board of Governors of the Federal Reserve System (U.S.).
- Simon Gilchrist & Charles P. Himmelberg, 1995. "Evidence on the Role of Cash Flow for Investment," Working Papers 95-01, New York University, Leonard N. Stern School of Business, Department of Economics.
- Gilchrist, S. & Himmelberg, C.P., 1995. "Evidence on the Role of Cash Flow for Investment," Papers 95-29, Columbia - Graduate School of Business.
- Eugene F. Fama & Kenneth R. French, 2001.
"Disappearing Dividends: Changing Firm Characteristics Or Lower Propensity To Pay?,"
Journal of Applied Corporate Finance, Morgan Stanley, vol. 14(1), pages 67-79, March.
- Fama, Eugene F. & French, Kenneth R., 2001. "Disappearing dividends: changing firm characteristics or lower propensity to pay?," Journal of Financial Economics, Elsevier, vol. 60(1), pages 3-43, April.
- Eugene F. Fama & Kenneth R. French, "undated". "Disappearing Dividends: Changing Firm Characteristics or Lower Propensity to Pay?."," CRSP working papers 509, Center for Research in Security Prices, Graduate School of Business, University of Chicago.
- Francisco Covas & Wouter J. Den Haan, 2012.
"The Role of Debt and Equity Finance Over the Business Cycle,"
Economic Journal, Royal Economic Society, vol. 122(565), pages 1262-1286, December.
- Francisco Covas & Wouter den Haan, 2006. "The Role of Debt and Equity Finance over the Business Cycle," Staff Working Papers 06-45, Bank of Canada.
- Francisco Covas & Wouter Denhaan, 2006. "The role of debt and equity finance over the business cycle," 2006 Meeting Papers 407, Society for Economic Dynamics.
- Den Haan, Wouter & Covas, Francisco, 2007. "The Role of Debt and Equity Finance over the Business Cycle," CEPR Discussion Papers 6145, C.E.P.R. Discussion Papers.
- Choe, Hyuk & Masulis, Ronald W. & Nanda, Vikram, 1993. "Common stock offerings across the business cycle : Theory and evidence," Journal of Empirical Finance, Elsevier, vol. 1(1), pages 3-31, June.
- Ben S. Bernanke & Mark Gertler, 1995.
"Inside the Black Box: The Credit Channel of Monetary Policy Transmission,"
Journal of Economic Perspectives, American Economic Association, vol. 9(4), pages 27-48, Fall.
- Ben S. Bernanke & Mark Gertler, 1995. "Inside the Black Box: The Credit Channel of Monetary Policy Transmission," NBER Working Papers 5146, National Bureau of Economic Research, Inc.
- Bernanke, Ben & Gertler, Mark, 1995. "Inside the Black Box: The Credit Channel of Monetary Policy Transmission," Working Papers 95-15, C.V. Starr Center for Applied Economics, New York University.
- Fama, Eugene F. & French, Kenneth R., 2005. "Financing decisions: who issues stock?," Journal of Financial Economics, Elsevier, vol. 76(3), pages 549-582, June.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Jae Sim & Egon Zakrajsek & Simon Gilchrist, 2010.
"Uncertainty, Financial Frictions, and Investment Dynamics,"
2010 Meeting Papers
1285, Society for Economic Dynamics.
- Simon Gilchrist & Jae W. Sim & Egon Zakrajšek, 2014. "Uncertainty, Financial Frictions, and Investment Dynamics," NBER Working Papers 20038, National Bureau of Economic Research, Inc.
- Simon Gilchrist & Jae W. Sim & Egon Zakrajšek, 2014. "Uncertainty, Financial Frictions, and Investment Dynamics," Finance and Economics Discussion Series 2014-69, Board of Governors of the Federal Reserve System (U.S.).
- Hovakimian, Gayané, 2011. "Financial constraints and investment efficiency: Internal capital allocation across the business cycle," Journal of Financial Intermediation, Elsevier, vol. 20(2), pages 264-283, April.
- Francisco Covas & Yahong Zhang, 2010.
"Price‐level versus inflation targeting with financial market imperfections,"
Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 43(4), pages 1302-1332, November.
- Francisco Covas & Yahong Zhang, 2010. "Price-level versus inflation targeting with financial market imperfections," Canadian Journal of Economics, Canadian Economics Association, vol. 43(4), pages 1302-1332, November.
- Francisco Covas & Yahong Zhang, 2008. "Price-Level versus Inflation Targeting with Financial Market Imperfections," Staff Working Papers 08-26, Bank of Canada.
- Mamdouh Medhat & Berardino Palazzo, 2020. "Equity Financing Risk," Finance and Economics Discussion Series 2020-037, Board of Governors of the Federal Reserve System (U.S.).
- Park, Jongho, 2024. "Uncertainty shocks, equity financing, and business cycle amplifications," Journal of Corporate Finance, Elsevier, vol. 85(C).
- José María Serena & Ricardo Sousa, 2017.
"Does exchange rate depreciation have contractionary effects on firm-level investment?,"
BIS Working Papers
624, Bank for International Settlements.
- Jose Maria Serena & Ricardo Sousa, 2018. "Does exchange rate depreciation have contractionary effects on firm-level investment?," Working Papers 26, European Stability Mechanism.
- Oliveira, Fernando N. de & Neto, Alberto Ronchi, 2012. "An empirical analysis of the external finance premium of public non-financial corporations in Brazil," Revista Brasileira de Economia - RBE, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil), vol. 66(3), October.
- Mizen, Paul & Tsoukas, Serafeim, 2012.
"The response of the external finance premium in Asian corporate bond markets to financial characteristics, financial constraints and two financial crises,"
Journal of Banking & Finance, Elsevier, vol. 36(11), pages 3048-3059.
- Paul Mizen & Serafeim Tsoukas, 2012. "The response of the external finance premium in Asian corporate bond markets to financial characteristics, financial constraints and two financial crises," Working Papers 2012_08, Business School - Economics, University of Glasgow.
- DeAngelo, Harry & DeAngelo, Linda & Stulz, René M., 2010. "Seasoned equity offerings, market timing, and the corporate lifecycle," Journal of Financial Economics, Elsevier, vol. 95(3), pages 275-295, March.
- Jean-Bernard Chatelain, 2002. "Structural modelling of investment and financial constraints: Where do we stand?," Working Paper Research 28, National Bank of Belgium.
- Aysun, Uluc & Jeon, Kiyoung & Kabukcuoglu, Zeynep, 2018. "Is the credit channel alive? Firm-level evidence on the sensitivity of borrowing spreads to monetary policy," Economic Modelling, Elsevier, vol. 75(C), pages 305-319.
- Allini, Alessandra & Rakha, Soliman & McMillan, David G. & Caldarelli, Adele, 2018. "Pecking order and market timing theory in emerging markets: The case of Egyptian firms," Research in International Business and Finance, Elsevier, vol. 44(C), pages 297-308.
- Jean-Bernard Chatelain, 2003.
"Structural modelling of financial constraints on investment: where do we stand?,"
Chapters, in: Paul Butzen & Catherine Fuss (ed.), Firms’ Investment and Finance Decisions, chapter 2, pages 40-58,
Edward Elgar Publishing.
- Jean-Bernard Chatelain, 2003. "Structural Modelling of Financial Constraints on Investment: Where Do We Stand?," Post-Print halshs-00112522, HAL.
- Jean-Bernard Chatelain, 2003. "Structural Modelling of Financial Constraints on Investment: Where Do We Stand?," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00112522, HAL.
- Dell'Ariccia, Giovanni & Detragiache, Enrica & Rajan, Raghuram, 2008.
"The real effect of banking crises,"
Journal of Financial Intermediation, Elsevier, vol. 17(1), pages 89-112, January.
- Mr. Giovanni Dell'Ariccia & Raghuram Rajan & Ms. Enrica Detragiache, 2005. "The Real Effect of Banking Crises," IMF Working Papers 2005/063, International Monetary Fund.
- Detragiache, Enrica & Rajan, Raghuram & Dell'Ariccia, Giovanni, 2005. "The Real Effect of Banking Crises," CEPR Discussion Papers 5088, C.E.P.R. Discussion Papers.
- Drobetz, Wolfgang & Haller, Rebekka & Meier, Iwan & Tarhan, Vefa, 2017. "The impact of liquidity crises on cash flow sensitivities," The Quarterly Review of Economics and Finance, Elsevier, vol. 66(C), pages 225-239.
- Dittmar, Amy K. & Dittmar, Robert F., 2008. "The timing of financing decisions: An examination of the correlation in financing waves," Journal of Financial Economics, Elsevier, vol. 90(1), pages 59-83, October.
- Alex Edmans & William Mann, 2019.
"Financing Through Asset Sales,"
Management Science, INFORMS, vol. 65(7), pages 3043-3060, July.
- Edmans, Alex & Mann, William, 2012. "Financing through Asset Sales," Working Papers 13-03, University of Pennsylvania, Wharton School, Weiss Center.
- Alex Edmans & William Mann, 2013. "Financing Through Asset Sales," NBER Working Papers 18677, National Bureau of Economic Research, Inc.
- Edmans, Alex & Mann, William, 2013. "Financing Through Asset Sales," CEPR Discussion Papers 9720, C.E.P.R. Discussion Papers.
- Luca Riccetti & Alberto Russo & Mauro Gallegati, 2022.
"Firm–bank credit network, business cycle and macroprudential policy,"
Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 17(2), pages 475-499, April.
- Luca Riccetti & Alberto Russo & Mauro Gallegati, 2020. "Firm-bank credit network, business cycle and macroprudential policy," Working Papers 2020/16, Economics Department, Universitat Jaume I, Castellón (Spain).
- Riccetti, Luca & Russo, Alberto & Gallegati, Mauro, 2020. "Firm-bank credit networks, business cycle and macroprudential policy," MPRA Paper 98928, University Library of Munich, Germany.
- DeAngelo, Harry & DeAngelo, Linda & Stulz, Rene, 2007.
"Fundamentals, Market Timing, and Seasoned Equity Offerings,"
Working Paper Series
2007-13, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
- Harry DeAngelo & Linda DeAngelo & René M. Stulz, 2007. "Fundamentals, Market Timing, and Seasoned Equity Offerings," NBER Working Papers 13285, National Bureau of Economic Research, Inc.
- W. Allard Bruinshoofd & Leo de Haan, 2012.
"Market timing and corporate capital structure: a transatlantic comparison,"
Applied Economics, Taylor & Francis Journals, vol. 44(28), pages 3691-3703, October.
- Allard Bruinshoofd & Leo de Haan, 2011. "Market timing and corporate capital structure: a transatlantic comparison," Post-Print hal-00716627, HAL.
More about this item
JEL classification:
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
- L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
- L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
Lists
This item is featured on the following reading lists, Wikipedia, or ReplicationWiki pages:- The Cyclical Behaviour of Debt and Equity Finance (AER 2011) in ReplicationWiki
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aea:aecrev:v:101:y:2011:i:2:p:877-99. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Michael P. Albert (email available below). General contact details of provider: https://edirc.repec.org/data/aeaaaea.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.