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Leasing, Ability to Repossess, and Debt Capacity

Citations

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Cited by:

  1. Li, Kai & You, Linqing, 2023. "Leased capital and the investment-q relation," Journal of Corporate Finance, Elsevier, vol. 80(C).
  2. Doris Neuberger & Solvig Räthke-Döppner, 2013. "Leasing by small enterprises," Applied Financial Economics, Taylor & Francis Journals, vol. 23(7), pages 535-549, April.
  3. Sylvain Catherine & Thomas Chaney & Zongbo Huang & David Sraer & David Thesmar, 2022. "Quantifying Reduced‐Form Evidence on Collateral Constraints," Journal of Finance, American Finance Association, vol. 77(4), pages 2143-2181, August.
  4. Fabbri, Daniela & Menichini, Anna Maria C., 2016. "The commitment problem of secured lending," Journal of Financial Economics, Elsevier, vol. 120(3), pages 561-584.
  5. Rampini, Adriano A. & Viswanathan, S., 2013. "Collateral and capital structure," Journal of Financial Economics, Elsevier, vol. 109(2), pages 466-492.
  6. Fabbri, Daniela & Menichini, Anna Maria C., 2010. "Trade credit, collateral liquidation, and borrowing constraints," Journal of Financial Economics, Elsevier, vol. 96(3), pages 413-432, June.
  7. Juliano J. Assunção & Efraim Benmelech & Fernando S. S. Silva, 2014. "Repossession and the Democratization of Credit," The Review of Financial Studies, Society for Financial Studies, vol. 27(9), pages 2661-2689.
  8. Andrew Demers & Andrea L. Eisfeldt, 2022. "Total returns to single‐family rentals," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 50(1), pages 7-32, March.
  9. Mayordomo, Sergio & Moreno, Antonio & Ongena, Steven & Rodríguez-Moreno, María, 2021. "Bank capital requirements, loan guarantees and firm performance," Journal of Financial Intermediation, Elsevier, vol. 45(C).
  10. Cerqueiro, G.M. & Ongena, S. & Roszbach, K., 2011. "Collateralization, Bank Loan Rates and Monitoring : Evidence from a Natural Experiment," Discussion Paper 2011-087, Tilburg University, Center for Economic Research.
  11. Sebastian Infante, 2013. "Repo collateral fire sales: the effects of exemption from automatic stay," Finance and Economics Discussion Series 2013-83, Board of Governors of the Federal Reserve System (U.S.).
  12. Livdan, Dmitry & Nezlobin, Alexander, 2021. "Investment, capital stock, and replacement cost of assets when economic depreciation is non-geometric," Journal of Financial Economics, Elsevier, vol. 142(3), pages 1444-1469.
  13. Yang, Liuyong & Wang, Rui & Chen, Zhenyi & Luo, Xingguo, 2020. "What determines the issue price of lease asset-backed securities in China?," International Review of Financial Analysis, Elsevier, vol. 72(C).
  14. José Liberti & Jason Sturgess & Andrew Sutherland, 2018. "Economics of Voluntary Information Sharing," Working Papers 869, Queen Mary University of London, School of Economics and Finance.
  15. Gordon Phillips & Giorgo Sertsios, 2013. "How Do Firm Financial Conditions Affect Product Quality and Pricing?," Management Science, INFORMS, vol. 59(8), pages 1764-1782, August.
  16. João Pinto & Luís K. Pacheco, 2014. "The Economics Of Structured Leasing," Working Papers de Economia (Economics Working Papers) 04, Católica Porto Business School, Universidade Católica Portuguesa.
  17. Hortaçsu, Ali & Syverson, Chad, 2009. "Why Do Firms Own Production Chains?," Working Papers 227, The University of Chicago Booth School of Business, George J. Stigler Center for the Study of the Economy and the State.
  18. Ivashina, Victoria & Laeven, Luc & Moral-Benito, Enrique, 2022. "Loan types and the bank lending channel," Journal of Monetary Economics, Elsevier, vol. 126(C), pages 171-187.
  19. Pérez-Orive, Ander, 2016. "Credit constraints, firms׳ precautionary investment, and the business cycle," Journal of Monetary Economics, Elsevier, vol. 78(C), pages 112-131.
  20. Dilek Bülbül & Felix Noth & Marcel Tyrell, 2014. "Why Do Banks Provide Leasing?," Journal of Financial Services Research, Springer;Western Finance Association, vol. 46(2), pages 137-175, October.
  21. Florian Kaposty & Philipp Klein & Matthias Löderbusch & Andreas Pfingsten, 2022. "Loss given default in SME leasing," Review of Managerial Science, Springer, vol. 16(5), pages 1561-1597, July.
  22. Benmelech, Efraim & Bergman, Nittai K., 2009. "Collateral pricing," Journal of Financial Economics, Elsevier, vol. 91(3), pages 339-360, March.
  23. Lozano, Rodrigo & Carpenter, Angela & Lozano, Francisco J., 2014. "Critical reflections on the Chemical Leasing concept," Resources, Conservation & Recycling, Elsevier, vol. 86(C), pages 53-60.
  24. S. Viswanathan & Adriano Rampini, 2013. "Household risk management," 2013 Meeting Papers 647, Society for Economic Dynamics.
  25. Berger, Allen N. & Black, Lamont K., 2011. "Bank size, lending technologies, and small business finance," Journal of Banking & Finance, Elsevier, vol. 35(3), pages 724-735, March.
  26. Golbeck, Steven & Linetsky, Vadim, 2013. "Asset financing with credit risk," Journal of Banking & Finance, Elsevier, vol. 37(1), pages 43-59.
  27. Calomiris, Charles W. & Larrain, Mauricio & Liberti, José & Sturgess, Jason, 2017. "How collateral laws shape lending and sectoral activity," Journal of Financial Economics, Elsevier, vol. 123(1), pages 163-188.
  28. Thomas Chaney & David Sraer & David Thesmar, 2012. "The Collateral Channel: How Real Estate Shocks Affect Corporate Investment," American Economic Review, American Economic Association, vol. 102(6), pages 2381-2409, October.
  29. Eisfeldt, Andrea L. & Rampini, Adriano A., 2007. "New or used? Investment with credit constraints," Journal of Monetary Economics, Elsevier, vol. 54(8), pages 2656-2681, November.
  30. Lim, Steve C. & Mann, Steven C. & Mihov, Vassil T., 2017. "Do operating leases expand credit capacity? Evidence from borrowing costs and credit ratings," Journal of Corporate Finance, Elsevier, vol. 42(C), pages 100-114.
  31. Lin, Jane-Raung & Wang, Chia-Jane & Chou, De-Wei & Chueh, Fei-Chun, 2013. "Financial constraint and the choice between leasing and debt," International Review of Economics & Finance, Elsevier, vol. 27(C), pages 171-182.
  32. Cook, Douglas O. & Kieschnick, Robert & Moussawi, Rabih, 2021. "Operating lease obligations and corporate cash management," Journal of Corporate Finance, Elsevier, vol. 69(C).
  33. Annamaria Menichini & Maria Grazia Romano, 2018. "Does the Master’s Eye Fatten the Cattle? Maintenance and Care of Collateral under Purchase and Leasing Contracts," CSEF Working Papers 520, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy, revised 15 Mar 2021.
  34. Ma, Song & Murfin, Justin & Pratt, Ryan, 2022. "Young firms, old capital," Journal of Financial Economics, Elsevier, vol. 146(1), pages 331-356.
  35. Gavazza, Alessandro, 2010. "Asset liquidity and financial contracts: Evidence from aircraft leases," Journal of Financial Economics, Elsevier, vol. 95(1), pages 62-84, January.
  36. Mao, Yifei, 2021. "Managing innovation: The role of collateral," Journal of Accounting and Economics, Elsevier, vol. 72(1).
  37. Liberti, José & Sturgess, Jason & Sutherland, Andrew, 2022. "How voluntary information sharing systems form: Evidence from a U.S. commercial credit bureau," Journal of Financial Economics, Elsevier, vol. 145(3), pages 827-849.
  38. Strebulaev, Ilya A. & Yang, Baozhong, 2013. "The mystery of zero-leverage firms," Journal of Financial Economics, Elsevier, vol. 109(1), pages 1-23.
  39. Piero Gottardi & Vincent Maurin & Cyril Monnet, 2019. "A theory of repurchase agreements, collateral re-use, and repo intermediation," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 33, pages 30-56, July.
  40. Peter N. Gal & Gabor Pinter, 2017. "Capital over the Business Cycle: Renting versus Ownership," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 49(6), pages 1299-1338, September.
  41. Ma, Mark (Shuai) & Thomas, Wayne B., 2023. "Economic consequences of operating lease recognition," Journal of Accounting and Economics, Elsevier, vol. 75(2).
  42. repec:mth:ijafr8:v:9:y:2019:i:1:p:245-256 is not listed on IDEAS
  43. Andrea Caggese & Ander Pérez-Orive, 2017. "Capital Misallocation and Secular Stagnation," Finance and Economics Discussion Series 2017-009, Board of Governors of the Federal Reserve System (U.S.).
  44. Caggese, Andrea & Pérez-Orive, Ander, 2022. "How stimulative are low real interest rates for intangible capital?," European Economic Review, Elsevier, vol. 142(C).
  45. Kenneth Ayotte, 2015. "Leases and Executory Contracts in Chapter 11," Journal of Empirical Legal Studies, John Wiley & Sons, vol. 12(4), pages 637-663, December.
  46. Kim, Kirak, 2020. "Inventory, fixed capital, and the cross-section of corporate investment," Journal of Corporate Finance, Elsevier, vol. 60(C).
  47. Schallheim, James & Wells, Kyle & Whitby, Ryan J., 2013. "Do leases expand debt capacity?," Journal of Corporate Finance, Elsevier, vol. 23(C), pages 368-381.
  48. Stefania Cosci & Roberto Guida & Valentina Meliciani, 2015. "Leasing Decisions and Credit Constraints: Empirical Analysis on a Sample of Italian Firms," European Financial Management, European Financial Management Association, vol. 21(2), pages 377-398, March.
  49. Maria Kokoreva & Anastasia Stepanova & Kirill Povk, 2017. "Could High-Tech Companies Learn from Others While Choosing Capital Structure?," HSE Working papers WP BRP 62/FE/2017, National Research University Higher School of Economics.
  50. Huang, Jialin & Rong, Zhao, 2017. "Housing boom, real estate diversification, and capital structure: Evidence from China," Emerging Markets Review, Elsevier, vol. 32(C), pages 74-95.
  51. Finkelstein Shapiro, Alan, 2014. "Self-employment and business cycle persistence: Does the composition of employment matter for economic recoveries?," Journal of Economic Dynamics and Control, Elsevier, vol. 46(C), pages 200-218.
  52. Jason Donaldson & Denis Gromb & Giorgia Piacentino, 2019. "Conflicting Priorities: A Theory of Covenants and Collateral," 2019 Meeting Papers 157, Society for Economic Dynamics.
  53. Dan Cao & Roger Lagunoff, 2016. "The Design of Optimal Collateralized Contracts," Working Papers gueconwpa~16-16-01, Georgetown University, Department of Economics, revised 01 Jun 2017.
  54. Andrikopoulos, Athanasios & Markellos, Raphael N., 2015. "Dynamic interaction between markets for leasing and selling automobiles," Journal of Banking & Finance, Elsevier, vol. 50(C), pages 260-270.
  55. Efraim Benmelech & Nittai K. Bergman, 2008. "Liquidation Values and the Credibility of Financial Contract Renegotiation: Evidence from U.S. Airlines," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 123(4), pages 1635-1677.
  56. Kurmann, André, 2014. "Holdups and overinvestment in capital markets," Journal of Economic Theory, Elsevier, vol. 151(C), pages 88-113.
  57. Na Zhang, 2018. "Leasing, legal environments, and growth: evidence from 76 countries," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 42(4), pages 746-764, October.
  58. Ge, Jianjun & Li, Donghui & Ni, Yingzhao & Yang, Shijie, 2022. "Inflexibility and corporate innovation: Cross-country evidence," Journal of Multinational Financial Management, Elsevier, vol. 64(C).
  59. Rampini, Adriano A. & Viswanathan, S., 2018. "Financing Insurance," CEPR Discussion Papers 12855, C.E.P.R. Discussion Papers.
  60. Livdan, Dmitry & Nezlobin, Alexander, 2021. "Investment, capital stock, and replacement cost of assets when economic depreciation is non-geometric," LSE Research Online Documents on Economics 108639, London School of Economics and Political Science, LSE Library.
  61. Benmelech, Efraim & Bergman, Nittai K., 2011. "Vintage capital and creditor protection," Journal of Financial Economics, Elsevier, vol. 99(2), pages 308-332, February.
  62. Arbana Sahiti, 2017. "Creative Accounting- Nature, Usage, Labor and Relation with the Own Crisis Consequences in Practice in Kosovo," European Journal of Economics and Business Studies Articles, Revistia Research and Publishing, vol. 3, January -.
  63. Landry, Suzanne & Fortin, Anne & Callimaci, Antonello, 2013. "Family firms and the lease decision," Journal of Family Business Strategy, Elsevier, vol. 4(3), pages 176-187.
  64. Natalia Nehrebecka & Aneta Dzik-Walczak, 2016. "Publication selection bias in the sources of financing the enterprises research? A Meta-Regression Analysis," Working Papers 2016-02, Faculty of Economic Sciences, University of Warsaw.
  65. Chemmanur, Thomas & Jiao, Yawen & Yan, An, 2010. "A theory of contractual provisions in leasing," Journal of Financial Intermediation, Elsevier, vol. 19(1), pages 116-142, January.
  66. Begoña Giner & Francisca Pardo, 2018. "The Value Relevance of Operating Lease Liabilities: Economic Effects of IFRS 16," Australian Accounting Review, CPA Australia, vol. 28(4), pages 496-511, December.
  67. Benjamin L. Collier & Andrew F. Haughwout & Howard C. Kunreuther & Erwann O. Michel‐Kerjan, 2020. "Firms’ Management of Infrequent Shocks," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(6), pages 1329-1359, September.
  68. Borghan Nezami Narajabad & Cyril Monnet, 2012. "Why Rent When You Can Buy? A Theory of Repurchase Agreements," 2012 Meeting Papers 647, Society for Economic Dynamics.
  69. Adriano A. Rampini, 2019. "Financing Durable Assets," American Economic Review, American Economic Association, vol. 109(2), pages 664-701, February.
  70. Nuri Ersahin & Rustom M. Irani, 2015. "Collateral Values and Corporate Employment," Working Papers 15-30, Center for Economic Studies, U.S. Census Bureau.
  71. Doerr, Sebastian, 2018. "Collateral, Reallocation, and Aggregate Productivity: Evidence from the U.S. Housing Boom," MPRA Paper 106163, University Library of Munich, Germany.
  72. Tut, Daniel, 2019. "Creditor Rights, Debt Capacity and Securities Issuance: Evidence from Anti-Recharacterization Laws," MPRA Paper 102460, University Library of Munich, Germany.
  73. Munir, Qaiser & Kok, Sook Ching & Teplova, Tamara & Li, Tongxia, 2017. "Powerful CEOs, debt financing, and leasing in Chinese SMEs: Evidence from threshold model," The North American Journal of Economics and Finance, Elsevier, vol. 42(C), pages 487-503.
  74. Chodorow-Reich, Gabriel & Darmouni, Olivier & Luck, Stephan & Plosser, Matthew, 2022. "Bank liquidity provision across the firm size distribution," Journal of Financial Economics, Elsevier, vol. 144(3), pages 908-932.
  75. Efraim Benmelech & Nitish Kumar & Raghuram Rajan, 2020. "The Decline of Secured Debt," NBER Working Papers 26637, National Bureau of Economic Research, Inc.
  76. Davidson Heath & Giorgo Sertsios, 2022. "Profitability and Financial Leverage: Evidence from a Quasi-Natural Experiment," Management Science, INFORMS, vol. 68(11), pages 8386-8410, November.
  77. Nuri Ersahin & Rustom M. Irani, 2015. "Collateral Values and Corporate Employment," Working Papers 15-30r, Center for Economic Studies, U.S. Census Bureau.
  78. Mateut, Simona & Mizen, Paul & Ziane, Ydriss, 2015. "Inventory composition and trade credit," International Review of Financial Analysis, Elsevier, vol. 42(C), pages 434-446.
  79. repec:hal:spmain:info:hdl:2441/75koqefued8i7pihbrl9u84p4u is not listed on IDEAS
  80. repec:hal:spmain:info:hdl:2441/5e3g19l1fn9thpq7ldd8kqr3vu is not listed on IDEAS
  81. Manasa Gopal & Philipp Schnabl, 2022. "The Rise of Finance Companies and FinTech Lenders in Small Business Lending," Review of Financial Studies, Society for Financial Studies, vol. 35(11), pages 4859-4901.
  82. Rampini, Adriano A. & Sufi, Amir & Viswanathan, S., 2014. "Dynamic risk management," Journal of Financial Economics, Elsevier, vol. 111(2), pages 271-296.
  83. Chen, Kaiji & Song, Zheng, 2013. "Financial frictions on capital allocation: A transmission mechanism of TFP fluctuations," Journal of Monetary Economics, Elsevier, vol. 60(6), pages 683-703.
  84. Yongqiang Chu, 2020. "Collateral, Ease of Repossession, and Leases: Evidence from Antirecharacterization Laws," Management Science, INFORMS, vol. 66(7), pages 2951-2974, July.
  85. Figen Gunes Dogan, 2016. "Non†cancellable Operating Leases and Operating Leverage," European Financial Management, European Financial Management Association, vol. 22(4), pages 576-612, September.
  86. Devos, Erik & Rahman, Shofiqur, 2014. "Location and lease intensity," Journal of Corporate Finance, Elsevier, vol. 29(C), pages 20-36.
  87. Kusano, Masaki & Sakuma, Yoshihiro & Tsunogaya, Noriyuki, 2016. "Economic consequences of changes in the lease accounting standard: Evidence from Japan," Journal of Contemporary Accounting and Economics, Elsevier, vol. 12(1), pages 73-88.
  88. Lina Maulidiana, 2018. "Implementation of Leasing Contract in Non-Banking Finance Institutions," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 255-267.
  89. Bourjade, Sylvain & Huc, Regis & Muller-Vibes, Catherine, 2017. "Leasing and profitability: Empirical evidence from the airline industry," Transportation Research Part A: Policy and Practice, Elsevier, vol. 97(C), pages 30-46.
  90. Amir Kermani & Yueran Ma, 2020. "Two Tales of Debt," NBER Working Papers 27641, National Bureau of Economic Research, Inc.
  91. Jeffery (Jinfan) Chang & Ting Yang & Yanping Shi, 2022. "Finance Leases: In the Shadow of Banks [Entrusted loans: a close look at China’s shadow banking system]," Review of Finance, European Finance Association, vol. 26(3), pages 721-749.
  92. Piero Gottardi & Vincent Maurin & Cyril Monnet, 2019. "A theory of repurchase agreements, collateral re-use, and repo intermediation," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 33, pages 30-56, July.
  93. Miller, Patrick & Töws, Eugen, 2018. "Loss given default adjusted workout processes for leases," Journal of Banking & Finance, Elsevier, vol. 91(C), pages 189-201.
  94. Elizabeth Devos & Erik Devos & He Li & Desmond Tsang, 2022. "Operating Lease as Alternative Financing for REITs: a Viable Strategy or a Sign of Trouble?," The Journal of Real Estate Finance and Economics, Springer, vol. 65(2), pages 153-180, August.
  95. Devos, Erik & Dhillon, Upinder & Jagannathan, Murali & Krishnamurthy, Srinivasan, 2012. "Why are firms unlevered?," Journal of Corporate Finance, Elsevier, vol. 18(3), pages 664-682.
  96. Hyun Shin & Se-Jik Kim, 2013. "Financing Growth without Banks: Korean Housing Repo Contract," 2013 Meeting Papers 328, Society for Economic Dynamics.
  97. Harford, Jarrad & Kecskés, Ambrus & Mansi, Sattar, 2018. "Do long-term investors improve corporate decision making?," Journal of Corporate Finance, Elsevier, vol. 50(C), pages 424-452.
  98. repec:hal:wpspec:info:hdl:2441/5e3g19l1fn9thpq7ldd8kqr3vu is not listed on IDEAS
  99. David Ling & Andy Naranjo & Michael Ryngaert, 2012. "Real Estate Ownership, Leasing Intensity, and Value: Do Stock Returns Reflect a Firm’s Real Estate Holdings?," The Journal of Real Estate Finance and Economics, Springer, vol. 44(1), pages 184-202, January.
  100. Anna Białek-Jaworska & Natalia Nehrebecka, 2016. "Determinants of Polish Enterprises' Propensity to Lease," Working Papers 2016-07, Faculty of Economic Sciences, University of Warsaw.
  101. Rahman, Shofiqur & Chowdhury, Hasibul, 2023. "Tournament-based incentives and the lease-versus-buy decision," Journal of Banking & Finance, Elsevier, vol. 148(C).
  102. Najah Attig, 2024. "Relaxed Financial Constraints and Corporate Social Responsibility," Journal of Business Ethics, Springer, vol. 189(1), pages 111-131, January.
  103. Hasibul Chowdhury & Shofiqur Rahman & Harikumar Sankaran, 2021. "Leverage deviation from the target debt ratio and leasing," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 61(2), pages 3481-3515, June.
  104. Omer Unsal & M. Kabir Hassan, 2020. "Employee lawsuits and capital structure," Review of Managerial Science, Springer, vol. 14(3), pages 663-704, June.
  105. Murillo Campello & Mauricio Larrain, 2016. "Enlarging the Contracting Space: Collateral Menus, Access to Credit, and Economic Activity," Review of Financial Studies, Society for Financial Studies, vol. 29(2), pages 349-383.
  106. Rong, Zhao & Wang, Wenchun & Gong, Qiang, 2016. "Housing price appreciation, investment opportunity, and firm innovation: Evidence from China," Journal of Housing Economics, Elsevier, vol. 33(C), pages 34-58.
  107. Antonello Callimaci & Anne Fortin & Suzanne Landry, 2011. "Determinants of leasing propensity in Canadian listed companies," International Journal of Managerial Finance, Emerald Group Publishing Limited, vol. 7(3), pages 259-283, June.
  108. Zacharias Sautner & Vladimir Vladimirov, 2018. "Indirect Costs of Financial Distress and Bankruptcy Law: Evidence from Trade Credit and Sales [Bankruptcy codes and innovations]," Review of Finance, European Finance Association, vol. 22(5), pages 1667-1704.
  109. repec:ers:journl:v:volumexxi:y:2018:i:issue4:p:255-267 is not listed on IDEAS
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