Investment and access to external finance in Europe: Does analyst coverage matter?
| dc.rights.license | open | en_US |
| dc.contributor.author | GALANTI, Sebastien | |
| hal.structure.identifier | Université de Bordeaux [UB] | |
| dc.contributor.author | LEROY, Aurelien
IDREF: 197655467 | |
| dc.contributor.author | VAUBOURG, Anne-Gael | |
| dc.date.accessioned | 2022-03-28T10:16:18Z | |
| dc.date.available | 2022-03-28T10:16:18Z | |
| dc.date.issued | 2022-03 | |
| dc.identifier.issn | 1057-5219 | en_US |
| dc.identifier.uri | oai:crossref.org:10.1016/j.irfa.2022.102108 | |
| dc.identifier.uri | https://oskar-bordeaux.fr/handle/20.500.12278/136542 | |
| dc.description.abstractEn | We aim to determine whether analyst coverage improves European firms’ access to capital markets and investment. Based on a data set that includes firms from several European countries between 2000 and 2015, we implement a treatment effect framework and an instrumental variables (IV) approach, in which the intensity of industry-level waves in coverage is used as an instrument for firm-level coverage. We show that analyst coverage is favorable to firms’ debt and share issuance and their investment expenses. Our paper emphasizes the key role of financial analysts in improving European firms’ financial conditions | |
| dc.language.iso | EN | en_US |
| dc.rights | Attribution-NonCommercial-NoDerivs 3.0 United States | * |
| dc.rights.uri | http://creativecommons.org/licenses/by-nc-nd/3.0/us/ | * |
| dc.source | crossref | |
| dc.subject.en | nvestment | |
| dc.subject.en | debt issuance | |
| dc.subject.en | share issuance | |
| dc.subject.en | analyst | |
| dc.subject.en | coverage | |
| dc.title.en | Investment and access to external finance in Europe: Does analyst coverage matter? | |
| dc.type | Article de revue | en_US |
| dc.identifier.doi | 10.1016/j.irfa.2022.102108 | en_US |
| dc.subject.hal | Économie et finance quantitative [q-fin] | en_US |
| dc.subject.jel | G - Financial Economics::G2 - Financial Institutions and Services::G23 - Non-bank Financial Institutions; Financial Instruments; Institutional Investors | en_US |
| dc.subject.jel | G - Financial Economics::G3 - Corporate Finance and Governance::G31 - Capital Budgeting; Fixed Investment and Inventory Studies; Capacity | en_US |
| dc.subject.jel | G - Financial Economics::G3 - Corporate Finance and Governance::G32 - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill | en_US |
| bordeaux.journal | International Review of Financial Analysis | en_US |
| bordeaux.page | 102108 | en_US |
| bordeaux.hal.laboratories | Bordeaux Sciences Economiques / Bordeaux School of Economics -BSE) - UMR 6060 | en_US |
| bordeaux.institution | Université de Bordeaux | en_US |
| bordeaux.institution | CNRS | en_US |
| bordeaux.peerReviewed | oui | en_US |
| bordeaux.inpress | non | en_US |
| bordeaux.import.source | dissemin | |
| hal.identifier | hal-03621537 | |
| hal.version | 1 | |
| hal.date.transferred | 2022-03-28T10:16:21Z | |
| hal.export | true | |
| workflow.import.source | dissemin | |
| dc.rights.cc | Pas de Licence CC | en_US |
| bordeaux.COinS | ctx_ver=Z39.88-2004&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.jtitle=International%20Review%20of%20Financial%20Analysis&rft.date=2022-03&rft.spage=102108&rft.epage=102108&rft.eissn=1057-5219&rft.issn=1057-5219&rft.au=GALANTI,%20Sebastien&LEROY,%20Aurelien&VAUBOURG,%20Anne-Gael&rft.genre=article |
