Corporate Debt Maturity and the Real Effects of the 2007 Credit Crisis

By Heitor Almeida, Murillo Campello, Bruno A. Laranjeira, Scott J. Weisbenner. 2011

771 citations recorded by the source corpus.

Subfields: Finance

View Paper: https://www.semanticscholar.org/paper/ba8d2e72b4820b9c934f9e5f22c21b3a34b4580c

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Citations in the corpus

The Composition Matters: Capital Inflows and Liquidity Crunch During a Global Economic Crisis (2009, background): “…investigated the origin and consequences of the current financial crisis, including work by Mian and Sufi, (2008), Reinhart and Rogoff, (2008), Dell’Ariccia, Igan and Laeven, (2008), Greenlaw et al, (2008), Almeida et al (2009), Ehrmann, Fratzscher and Mehl, (2009), and Eichengreen et al (2009).”
Boarding a Sinking Ship? An Investigation of Job Applications to Distressed Firms (2016, background): “During the 2008 financial crisis, firms with large amounts of debt maturing faced tight financing constraints because of the reduced supply of traditional sources of corporate funding, including commercial paper, bonds, bank loans, and equity issuance (Almeida et al. 2011).”
The effects of stock liquidity on firm value and corporate governance: Endogeneity and the REIT experiment (2015, background): “, 2013) and (2) the Abadie and Imbens (2006) matching estimator (Abadie and Imbens, 2006; Colak and Whited, 2007; Almeida et al., 2011).”
Trade Credit, the Financial Crisis, and SME Access to Finance (2013, positive): “In the second of these papers dealing with firm investment during the crisis, Almeida et al. (2012) analyze the relationship between firm investment and debt maturity at U.”
Disentangling the Effects of a Banking Crisis: Evidence from German Firms and Counties (2018, background): “The findings on the direct effects confirm the results of Almeida et al. (2012) and Chodorow-Reich (2014).2 I estimate effects of similar magnitude to the existing literature, which suggests that Commerzbank’s lending cut has external relevance to the United States and other countries.”
The Global Financial Crisis, Family Control, and Dividend Policy: The Global Financial Crisis, Family Control, and Dividend Policy (2016, positive): “Family firms provide an ideal testing ground because they are particularly vulnerable to unanticipated liquidity shocks (Almeida et al., 2012).”
The Employment Effects of Credit Market Disruptions: Firm-level Evidence from the 2008–9 Financial Crisis (2014, background): “Papers that use variation generated by the 2007–9 crisis include Ivashina and Scharfstein (2010), Albertazzi and Marchetti (2011), Santos (2011), Aiyar (2012), De Haas and Van Horen (2012), and Almeida et al. (2012).”
Behavioral CEOs: The Role of Managerial Overconfidence (2015, methodology): “Almeida et al. (2012) describe a supply shock that occurred in corporate credit markets beginning in August 2007, at the outset of the financial crisis. Over the three prior years, average spreads on both investment-grade and high-yield bonds were generally stable and, if anything, mildly decreasing”
How Does Corporate Investment Respond to Increased Entry Threat (2015, positive): “We follow Almeida et al. (2012) and match firms on the basis of their size (the logarithm of total assets), investment opportunities (Tobin’s q), cash flow, cash holdings, and long-term debt-to-asset ratio.”