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1 - 3 van 3 voor debt issuance
governance stakeholder relationships german and dutch experience pdf
... and importance of the stock market are higher if little restrictive regulation on the issuance of shares exists, if information disclosure is sufficient to establish market transparency, and if ... problems like high private costs of monitoring and free-rider behaviour. bank intermediation in debt finance is efficient since it resolves some of these private incentive problems. moreover, because ...
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W:\nl\pub\...\memo19.wp [PFP#220377842]
... hines, 1997). first, differences in statutory tax rates between countries provoke profit shifting through debt contracts, manipulation of transfer prices, and so on. second, taxes affect the amount of ... either through equity or debt, and (ii) reinvested earnings by a foreign affiliate. other ways to finance the investments of subsidiaries, such as local borrowing or local issuance of shares, are ...
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Manager turnover and firm performance
... 3. we study the numbers on gross issuance of listed shares, bond issuance by non- financial firms, and changes in ... some signs that in particular in the us, issuance of securities (both debt and equity) has offset some of the decline in bank lending to firms. in both market-based eu and bank-based eu there was a marked increase in bond issuance ...
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