...- and medium-sized enterprises (SMEs), is a crucial factor in the choice of the financial structure, directed to the long-term debt, with negative consequences about the risk profile and about the probability of default. With reference to the amplest theme of the distress likelihood of the SMEs, part...

... to the distribution of leverage. Debt Financial crisis Systemic risk Housing markets Macroprudential policies Housing-related tax policies E58 G28 Increased household leverage and the associated dramatic house-price boom in the beginning of the century are widely regarded as having been...

...Emilio Venezian Purpose The paper aims to examine the practical importance of the finding of Mayers and Smith, that underinvestment is a problem when debt exposed to bankruptcy is part of the financial structure. Design/methodology/approach The paper examines critically the assumptions...