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Global Financial Stability Report, October 2016
			: Fostering Stability in a Low-Growth, Low-Rate Era

Global Financial Stability Report, October 2016 : Fostering Stability in a Low-Growth, Low-Rate Era »

Series: Global Financial Stability Report

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 October 2016

DOI: http://dx.doi.org/10.5089/9781513559582.082

ISBN: 9781513559582

Keywords: Economic stability, Financial stability, Global Financial Stability Report, Global Financial Stability Risks, global financial stability, corporate leverage, nonbank financing, corporate governance, investor protection

The current report finds that short-term risks to global financial stability have abated since April 2016, but that medium-term risks continue to build. Financial institutions in advanced economies face a number of...

Does Balance Sheet Strength Drive the Investment Cycle? Evidence from Pre- and Post-Crisis Cyprus

Does Balance Sheet Strength Drive the Investment Cycle? Evidence from Pre- and Post-Crisis Cyprus »

Source: Does Balance Sheet Strength Drive the Investment Cycle? Evidence from Pre- and Post-Crisis Cyprus

Volume/Issue: 2016/248

Series: IMF Working Papers

Author(s): Sophia Chen , and Yinqiu Lu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 December 2016

ISBN: 9781475563122

Keywords: Europe, Cyprus, Corporate sector, Investment, Corporate investment, Balance sheets, balance sheet, leverage, leverage Author&;amp;#x2019;s, Financial Markets and the Macroeconomy

Fixed investment was the most important contributing factor to the boom-bust cycle in Cyprus over the last decade. Investment boomed during a credit boom in mid-2000s, during which the corporate sector borrowed hea...

Tax Biases to Debt Finance

Tax Biases to Debt Finance »

Source: Tax Biases to Debt Finance : Assessing the Problem, Finding Solutions

Volume/Issue: 2011/11

Series: Staff Discussion Notes

Author(s): Ruud A. Mooij

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 May 2011

ISBN: 9781463935139

Keywords: Corporate taxation, investors, tax system, cost of capital, corporate tax, interest payments, Interest Deductibility, Corporate Financial Structure, Multinational Debt Shifting, Bank Leverage

Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief an...

Emerging Market Corporate Leverage and Global Financial Conditions

Emerging Market Corporate Leverage and Global Financial Conditions »

Source: Emerging Market Corporate Leverage and Global Financial Conditions

Volume/Issue: 2016/243

Series: IMF Working Papers

Author(s): Adrian Alter , and Selim Elekdag

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 December 2016

ISBN: 9781475560480

Keywords: Monetary policy, Corporate debt, United States, Emerging markets, Economic conditions, Corporate structure, Leverage, Global financial conditions, US monetary policy

Corporate debt in emerging markets has risen significantly in recent years amid accommodative global financial conditions. This paper studies the relationship of leverage growth in emerging market (EM) firms to U.S...

Corporate Vulnerabilities in India and Banks' Loan Performance

Corporate Vulnerabilities in India and Banks' Loan Performance »

Source: Corporate Vulnerabilities in India and Banks' Loan Performance

Volume/Issue: 2014/232

Series: IMF Working Papers

Author(s): Peter Lindner , and Sung Eun Jung

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 December 2014

ISBN: 9781498334235

Keywords: firm resilience, bank-corporate dependencies, leverage, corporate performance, debt, share, loan, market, Firm Behavior: Empirical Analysis, General

The financial performance of India's corporate sector has been under pressure since the Global Financial Crisis. Balance-sheet data on a large cross-section of Indian non-financial corporates show that the growth i...

Stress Testing Corporate Balance Sheets in Emerging Economies

Stress Testing Corporate Balance Sheets in Emerging Economies »

Source: Stress Testing Corporate Balance Sheets in Emerging Economies

Volume/Issue: 2015/216

Series: IMF Working Papers

Author(s): Julian Chow

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2015

ISBN: 9781513502717

Keywords: Emerging market corporate debt, leverage, debt at risk, debt, corporate debt, emerging market, market, markets, General, All Countries,

In recent years, firms in emerging market countries have increased borrowing, particularly in foreign currency, owing to easy access to global capital markets, prolonged low interest rates and good investment oppor...

Corporate Sector Vulnerabilities in Ireland

Corporate Sector Vulnerabilities in Ireland »

Source: Corporate Sector Vulnerabilities in Ireland

Volume/Issue: 2016/211

Series: IMF Working Papers

Author(s): Nir Klein

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 November 2016

ISBN: 9781475552171

Keywords: Corporate sector, Europe, Financial crisis, Ireland, leverage, interest rate shock, profit shock, General, General, General

The paper uses both macro- and micro-level data to assess how has the financial health of the Irish non-financial corporate (NFC) sector changed in the post financial crisis period. The analysis suggests that vulne...

Financial Frictions, Underinvestment, and Investment Composition

Financial Frictions, Underinvestment, and Investment Composition »

Source: Financial Frictions, Underinvestment, and Investment Composition : Evidence from Indian Corporates

Volume/Issue: 2017/134

Series: IMF Working Papers

Author(s): Sonali Das , and Volodymyr Tulin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 June 2017

ISBN: 9781484302644

Keywords: Asia and Pacific, India, Investment, Corporate Leverage, Financial Markets and the Macroeconomy

This paper studies private investment in India against the backdrop of a significant investment decline over the past decade. We analyze the potential causes of weaker investment at the firm level, using both firm-...

Corporate Financing Trends and Balance Sheet Risks in Latin America1

Corporate Financing Trends and Balance Sheet Risks in Latin America1 »

Source: Corporate Financing Trends and Balance Sheet Risks in Latin America

Volume/Issue: 2015/10

Series: IMF Working Papers

Author(s): Fabiano Rodrigues Bastos , Herman Kamil , and Bennett Sutton

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 January 2015

ISBN: 9781498307802

Keywords: Bond issuance, corporate leverage, bond, debt, markets, issuance, Financial Markets and the Macroeconomy,

Easy global liquidity conditions, stronger risk appetite and a retrenchment in cross-border bank lending led to a surge in emerging market firms' bond issuance in international markets (what we term 'The Bon(d)anza...

Taxation and Leverage in International Banking

Taxation and Leverage in International Banking »

Source: Taxation and Leverage in International Banking

Volume/Issue: 2012/281

Series: IMF Working Papers

Author(s): Grace Weishi Gu , Ruud A. Mooij , and Tigran Poghosyan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 November 2012

ISBN: 9781475572209

Keywords: Bank taxation, corporate tax, debt bias, leverage, international tax, subsidiaries, capital requirement, capital structure, tax differences

This paper explores how corporate taxes affect the financial structure of multinational banks. Guided by a simple theory of optimal capital structure it tests (i) whether corporate taxes induce subsidiary banks to...