Emilia Garcia-Appendini
Title
Prof. Dr
Last Name
Garcia-Appendini
First name
Emilia
Email
emilia.garcia-appendini@unisg.ch
Phone
+41 71 224 7760
20 results
Now showing 1 - 10 of 20
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Item type:Publication, Book review of Fault Lines by Raghuram G. RajanType:journal articleJournal:Financial Markets and Portfolio ManagementIssue:forthcoming - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Come sarebbe l'Italia con 1,000 imprese quotate?Type:journal articleJournal:Economia & ManagementVolume:2013Issue:3 - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Firms as liquidity providers: Evidence from the 2007-2008 financial crisisUsing a supplier-client matched sample, we study the effect of the 2007-2008 financial crisis on between-firm liquidity provision. Consistent with a causal effect of a negative shock to bank credit, we find that firms with high pre-crisis liquidity levels increased the trade credit extended to other corporations and subsequently experienced better performance as compared to ex-ante cash-poor firms. Trade credit taken by constrained firms increased during this period. These findings are consistent with firms providing liquidity insurance to their clients when bank credit is scarce and provide an important precautionary savings motive for accumulating cash reserves.Type:journal articleJournal:Journal of Financial EconomicsVolume:109Issue:1Scopus© Citations 383 - Some of the metrics are blocked by yourconsent settings
Item type:Publication, - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Trade Credit and Its Role in Entrepreneurial FinanceRecent research has found evidence of the central role of trade credit in the financing of small businesses. In the United States, for example, trade credit is used by about 60 percent of small businesses; such a large incidence of use is not observed in any other financial service except checking accounts. This article analyzes several aspects of the trade credit agreement. It starts by explaining why trade credit is such an extended phenomenon in spite of the existence of a specialized financial sector. Then it discusses several aspects that make trade credit a unique and not fully contractual arrangement, whose value depends to a great extent on the value of the commercial relationship between the supplier and the buyer. It then focuses on the value of trade credit for entrepreneurial firms.Type:book sectionScopus© Citations 59 - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Weathering the Storm? The Effects of Natural Disasters on Households under Universal Insurance(2026-06-02); - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Contracts and Returns in Private Equity InvestmentsWe analyze the relationship between contracts and returns in private equity (PE) investments. Contractual control in the form of covenants tends to be employed to identify good deals. Better quality fi?rms are more likely to have covenant-rich contracts, as they are less concerned by the constraints imposed by the covenants. PE investors appoint closer associates of the fund in deals that are performing poorly but tend to outsource board governance in better deals. Collectively, our evidence suggests that PE investors operate along two dimensions, choosing covenants and board seats di¤erently, based on the ex-ante quality of the company.Type:forthcomingJournal:Journal of Financial IntermediationIssue:in press, available onlineScopus© Citations 24 - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Financial distress and competitors' investmentThis paper analyzes whether the financial distress of a firm affects the investment decisions of non-distressed competitors. On average, firms in distress impose indirect costs to non-distressed competitors by increasing costs of credit in the industry and hence restricting credit access and investment. These average negative effects continue to hold in the absence of industry downturns and are temporary. However, negative effects are mitigated for firms with stronger balance sheets or in concentrated markets, suggesting that firms with strong balance sheets prey on their weaker rivals to improve their market position.Type:journal-articleJournal:Journal of Corporate FinanceVolume:51 - Some of the metrics are blocked by yourconsent settings
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Item type:Publication, Does Climate Change Affect Firm Sales? Identifying Supply Effects(2026-09-03);