Search Results - "CAMPELLO, MURILLO"

Real Assets and Capital Structure by Campello, Murillo, Giambona, Erasmo

“…We characterize the relation between asset structure and capital structure by exploiting variation in the salability of corporate assets. To establish this…”
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Financial Constraints, Asset Tangibility, and Corporate Investment by Almeida, Heitor, Campello, Murillo

“…Pledgeable assets support more borrowing, which allows for further investment in pledgeable assets. We use this credit multiplier to identify the impact of…”
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Do stock prices influence corporate decisions? Evidence from the technology bubble by Campello, Murillo, Graham, John R.

“…We study the capital investment, stock issuance, and cash savings behavior of non-tech manufacturers (old economy firms) during the 1990s technology bubble…”
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Bankruptcy and the Cost of Organized Labor: Evidence from Union Elections by Campello, Murillo, Gao, Janet, Qiu, Jiaping, Zhang, Yue

“…Unionized workers are entitled to special treatment in bankruptcy court that can be detrimental to other corporate stakeholders, with unsecured creditors…”
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The Real and Financial Implications of Corporate Hedging by CAMPELLO, MURILLO, LIN, CHEN, MA, YUE, ZOU, HONG

“…We study the implications of hedging for corporate financing and investment. We do so using an extensive, hand-collected data set on corporate hedging…”
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The real effects of financial constraints: Evidence from a financial crisis by Campello, Murillo, Graham, John R., Harvey, Campbell R.

“…We survey 1,050 Chief Financial Officers (CFOs) in the U.S., Europe, and Asia to directly assess whether their firms are credit constrained during the global…”
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Internal Capital Markets in Financial Conglomerates: Evidence from Small Bank Responses to Monetary Policy by Campello, Murillo

“…This paper looks at internal capital markets in financial conglomerates by comparing the responses of small subsidiary and independent banks to monetary…”
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Financing Frictions and the Substitution between Internal and External Funds by Almeida, Heitor, Campello, Murillo

“…Ample evidence points to a negative relation between internal funds (profitability) and the demand for external funds (debt issuance). This relation has been…”
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The Cash Flow Sensitivity of Cash by Almeida, Heitor, Campello, Murillo, Weisbach, Michael S.

“…We model a firm's demand for liquidity to develop a new test of the effect of financial constraints on corporate policies. The effect of financial constraints…”
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Is cash negative debt? A hedging perspective on corporate financial policies by Acharya, Viral V., Almeida, Heitor, Campello, Murillo

“…We show theoretically that while cash allows financially constrained firms to hedge future investment against income shortfalls, reducing current debt is a…”
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Corporate Liquidity Management: A Conceptual Framework and Survey by Almeida, Heitor, Campello, Murillo, Cunha, Igor, Weisbach, Michael S

“…Ensuring that a firm has sufficient liquidity to finance valuable projects that occur in the future is at the heart of the practice of financial management…”
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Access to Liquidity and Corporate Investment in Europe during the Financial Crisis by Campello, Murillo, Giambona, Erasmo, Graham, John R., Harvey, Campbell R.

“…We use a unique data set to show how firms in Europe used credit lines during the financial crisis. We find that firms with restricted access to credit (small,…”
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Customer concentration and loan contract terms by Campello, Murillo, Gao, Janet

“…We study pricing and non-pricing features of loan contracts to gauge how the credit market evaluates a firm’s customer-base profile and supply-chain relations…”
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Firm balance sheets and monetary policy transmission by Ashcraft, Adam B., Campello, Murillo

“…The functioning of internal capital markets in financial conglomerates facilitates a novel identification strategy of the balance sheet channel of monetary…”
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The Financial Accelerator: Evidence from International Housing Markets by Almeida, Heitor, Campello, Murillo, Liu, Crocker

“…This paper shows novel evidence on the mechanism through which financial constraints amplify fluctuations in asset prices and credit demand. It does so using…”
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Enlarging the Contracting Space: Collateral Menus, Access to Credit, and Economic Activity by Campello, Murillo, Larrain, Mauricio

“…Recent reforms across Eastern European countries have given more flexibility and information to parties to engage in secured debt transactions. The menu of…”
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Debt financing: Does it boost or hurt firm performance in product markets? by Campello, Murillo

“…Previous research seeks to establish whether debt boosts or hurts a firm's product market performance. This paper proposes that both of these outcomes can be…”
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Investment risk, CDS insurance, and firm financing by Campello, Murillo, Matta, Rafael

“…We develop a model in which investment risk drives the demand for CDS insurance. The model shows the efficiency of CDS contracting over the state of the…”
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Testing for Slope Heterogeneity Bias in Panel Data Models by Campello, Murillo, Galvao, Antonio F., Juhl, Ted

“…Standard econometric methods can overlook individual heterogeneity in empirical work, generating inconsistent parameter estimates in panel data models. We…”
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Personal Taxes and Firm Skill Hiring: Evidence from 27 Million Job Postings by Campello, Murillo, Gao, Janet, Xu, Qiping

“…Using big data on U.S. job postings, we show that firms increase skill requirements when hiring workers in states that cut personal income taxes. We trace a…”
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