This paper examines the broader effects of the U.S. financial crisis on global lending to retail customers. In particular we examine retail bank lending in Germany taking advantage of a unique dataset of German…
Using a new data set of U.K. syndicated loans, we document a significant loan cost disadvantage incurred by privately-held firms. For identification, we use the distance of a firm’s headquarters to London’s…
In this paper, we analyze if the integration of the European mutual funds industry has brought advantages to private and institutional investors. Moreover, we examine the possible determinants of fund fees as…
This paper analyses Greek fiscal sustainability. This topic lies in the core of all discussions about a potential exit of the country from the euro area, and - more in general - about the design and long-run…
Since the seminal work of Franco Modigliani and Merton Miller in 1958, no generally accepted capital structure theory has emerged. Consequently this paper does not aim to validate any of the capital structure…