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- Publications
- Influence
Financial Distress and Bank Restructuring of Small to Medium Size UK Companies
- J. Franks, O. Sussman
- Economics
- 1 May 2003
We use a unique data set to study how U.K. banks deal with financially distressed small and medium-sized companies under a ‘contractualist’ bankruptcy system. Unlike in the U.S., these procedures… Expand
A New Test of Capital Structure
- C. Mayer, O. Sussman
- Business
- 1 February 2004
This Paper reports a new test of capital structure theories. It uses a filtering technique to identify large investment spikes. We find that the spikes are predominantly financed with debt by large… Expand
Finance and Growth: Theory and New Evidence
- P. Harrison, O. Sussman, Joseph Zeira
- Economics
- 16 July 1999
This paper describes a feedback effect between real and financial development. The paper presents a new variable, which we call the cost of financial intermediation, through which the feedback… Expand
Macroeconomic Effects of Tax on Bond Interest Rate
- O. Sussman
- Economics
- 1 August 1991
The effect of taxes on interest earned upon capital accumulation and inflation is discussed within an overlapping generations model. It is shown that an increase in such a tax is likely to reduce… Expand
Financial innovations and corporate bankruptcy
- J. Franks, O. Sussman
- Economics
- 1 July 2005
In this paper we construct an evolutionary theory of bankruptcy law in which bankruptcy law is perceived as a mechanism for standardizing the default clauses in debt contracts. Our theory is… Expand
Banking and Development
- O. Sussman, Joseph Zeira
- Economics
- 1 February 1995
This paper reformulates the well known financial development conjecture (FDC) and supplies some new empirical evidence in its favour. The financial development conjecture, namely, that there exist… Expand
Financial Innovations and Corporate Insolvency
- J. Franks, O. Sussman, +21 authors A. Röell
- Business
- 1999
In this paper we develop a corporate-finance oriented theory of financial innovations. The theory is motivated by the different corporate insolvency procedures in England and America. In the paper’s… Expand
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Investment Spike Financing
- H. Im, C. Mayer, O. Sussman
- Business
- 6 April 2017
This is one of the most comprehensive studies to date to employ filtering techniques to distinguish between routine and "investment spike'' financing. It records marked differences in how US publicly… Expand
Endogenous Cycles in a Stiglitz-Weiss Economy
- J. Suárez, O. Sussman
- Economics
- 1 September 1997
The literature on financial imperfections and business cycles has focused on propagation mechanisms. In this paper we model a pure reversion mechanism, such that the economy may converge to a… Expand
Resolving Financial Distress By Way of a Contract:an Empirical Study of Small UK Companies
- J. Franks, O. Sussman
- Economics
- 12 November 2000
This paper provides an empirical study of the resolution of financial distress in England. The study is based upon a unique data set of 532 financially distressed UK companies, most of which are… Expand