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Corporate financing in Austria in the run-up to capital markets union (This study is also available in German)

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  • Helmut Elsinger & Robert Köck & Marcel Kropp & Walter Waschiczek, 2016. "Corporate financing in Austria in the run-up to capital markets union (This study is also available in German)," Financial Stability Report, Oesterreichische Nationalbank (Austrian Central Bank), issue 31, pages 96-119.
    • Handle: RePEc:onb:oenbfs:y:2016:i:31:b:3
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    File URL: https://www.oenb.at/dam/jcr:0d4f6b97-4e33-4cba-8ab1-1d0086098306/fsr_31_special%20topics_03.pdf
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    References listed on IDEAS

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    1. Evan Gatev & Philip E. Strahan, 2006. "Banks' Advantage in Hedging Liquidity Risk: Theory and Evidence from the Commercial Paper Market," Journal of Finance, American Finance Association, vol. 61(2), pages 867-892, April.
    2. Douglas W. Diamond & Philip H. Dybvig, 2000. "Bank runs, deposit insurance, and liquidity," Quarterly Review, Federal Reserve Bank of Minneapolis, vol. 24(Win), pages 14-23.
    3. Karen E. Wilson & Marco Testoni, 2014. "Improving the role of equity crowdfunding in Europe's capital markets," Policy Contributions 844, Bruegel.
    4. Lerner, Josh, 1995. "Venture Capitalists and the Oversight of Private Firms," Journal of Finance, American Finance Association, vol. 50(1), pages 301-318, March.
    5. Kraemer-Eis, Helmut & Lang, Frank & Gvetadze, Salome, 2015. "European Small Business Finance Outlook: June 2015," EIF Working Paper Series 2015/28, European Investment Fund (EIF).
    6. Amir Sufi, 2009. "The Real Effects of Debt Certification: Evidence from the Introduction of Bank Loan Ratings," The Review of Financial Studies, Society for Financial Studies, vol. 22(4), pages 1659-1691, April.
    7. Demary, Markus & Diermeier, Matthias & Haas, Heide, 2015. "A capital markets union for Europe: The relevance of banks and markets," IW policy papers 18/2015, Institut der deutschen Wirtschaft (IW) / German Economic Institute.
    8. Walter Waschiczek, 2004. "The Role of Corporate Bonds for Finance in Austria," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue 4, pages 39-52.
    9. Iota Kaousar Nassr & Gert Wehinger, 2014. "Non-bank debt financing for SMEs: The role of securitisation, private placements and bonds," OECD Journal: Financial Market Trends, OECD Publishing, vol. 2014(1), pages 139-162.
    10. Ivashina, Victoria & Sun, Zheng, 2011. "Institutional demand pressure and the cost of corporate loans," Journal of Financial Economics, Elsevier, vol. 99(3), pages 500-522, March.
    11. Werner Dirschmid & Walter Waschiczek, 2005. "Institutional Determinants of Equity Financing in Austria," Financial Stability Report, Oesterreichische Nationalbank (Austrian Central Bank), issue 9, pages 77-92.
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    Cited by:

    1. Christian Beer & Walter Waschiczek, 2018. "Capital markets union: a more diverse financial landscape in the EU?," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue Q2/18, pages 71-86.
    2. Christian Beer & Walter Waschiczek, 2017. "What is the financial sector’s contribution to the Austrian economy?," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue Q2/17, pages 54-72.

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    More about this item

    Keywords

    European integration; capital markets union; corporate financing; disintermediation; risk capital;
    All these keywords.

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G3 - Financial Economics - - Corporate Finance and Governance

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