Research background: The lack of financial resources of small and medium enterprises
(SMEs) make them face high financial risk. Their entrepreneurial abilities that belong to …

We investigate firm‐level determinants of capital structure using a large sample of 4,284
Japanese firms over a 19‐year period (ie, over 61,000 firm‐year observations), a hitherto …

Purpose The study investigates the impact of the interaction effect of product market
competition and rollover risk on the default risk of the firms. Design/methodology/approach …

How does banks' default risk affect the probability of default of non-financial businesses?
The literature has focused on the banks' direct corporate customers. It fails to consider the …

Do large credit risk shocks spill over to small businesses and affect their real economic
activity? Using information on small business credit risk, we find that small businesses show …

The aim of this paper is to explore how debt contracts are affected by investment in asset
specialization and by the dynamics of the secondary market for collateralized productive …

In a model where firms rely on bank financing to build capacity, put up specialized
productive assets as collateral, and then compete à la Cournot, we introduce a probability of …

This study dissects the causal relationship between ESG rating uncertainty and corporate
trade credit. Employing a range of robust empirical examinations, this study reveals a strong …

This study examines the choice of individual companies to adapt productive assets (PAs) to
specific production. To soften competition, companies may modify their assets to increase …

The purpose of this study is to present an in-depth review of various interactions of product
market competition such as innovation, firm performance, Capital structure and stock prices …