The Effects of Small-Firm Credit Guarantees During Recessions

时间:2020-11-27浏览:10设置

讲座时间:2020年11月25日  10:00- 11:30am

讲座地点:线上会议

                 https://meeting.tencent.com/s/9wLl7RnNhcD0

                        会议 ID134 372 614

讲座嘉宾:王素(阿姆斯特丹大学

讲座内容简介:  

Credit guarantees are popular policy responses during crises. Despite their prevalence, evidence of their effectiveness is sparse. We estimate the impacts of UK guarantees implemented during the Great Recession, by exploiting unexpected firm-size eligibility restrictions. We use a difference-in-difference approach that compares trends in outcomes between eligible firms and non-eligible firms that had the same growth trajectories pre-launch. The CGS increased the growth of debt, performance, employment and productivity, but had no effect on fixed assets. The preponderance of evidence suggests that the guarantees enabled financially constrained firms to finance employees during the recession, which were fundamental in the recovery.


讲座嘉宾简介: 

Su Wang is currently an assistant professor of finance at Amsterdam Business School, University of Amsterdam. Her research interests mainly lie in empirical corporate finance and entrepreneurship, with a focus on private and small and medium enterprises (SME). Su obtained her PhD in finance from LSE.




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