An extensive approach to unemployment insurance benefits and corporate finance metrics - interest coverage ratio
Autor(a) principal: | |
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Data de Publicação: | 2023 |
Tipo de documento: | Dissertação |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10362/156226 |
Resumo: | This paper investigates how differences in the unemployment insurance scheme across US states influence firms’ financial metrics. Over the 1981-2016 period, higher unemployment insurance benefits are associated with lower financial leverage through a crowding-out effect. In states with more generous UI benefits, creditors are willing to offer more favourable loan conditions, which translates into lower interest expenses, increasing the interest coverage ratio. No statistically significant relationship was found between unemployment insurance generosity and an increase in credit ratings. |
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An extensive approach to unemployment insurance benefits and corporate finance metrics - interest coverage ratioUnemployment riskUnemployment insurance benefitsStakeholdersCompensating wage differentialsCapital structureBank loansDebt maturityInterest coverage ratioProductivityCredit ratingEmployee welfareDomínio/Área Científica::Ciências Sociais::Economia e GestãoThis paper investigates how differences in the unemployment insurance scheme across US states influence firms’ financial metrics. Over the 1981-2016 period, higher unemployment insurance benefits are associated with lower financial leverage through a crowding-out effect. In states with more generous UI benefits, creditors are willing to offer more favourable loan conditions, which translates into lower interest expenses, increasing the interest coverage ratio. No statistically significant relationship was found between unemployment insurance generosity and an increase in credit ratings.Soares, MargaridaRUNFernandes, Rita Alexandra Costa2023-08-03T09:52:06Z2023-01-132023-01-102023-01-13T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10362/156226TID:203311329enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-03-11T05:38:50Zoai:run.unl.pt:10362/156226Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:56:23.744519Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
An extensive approach to unemployment insurance benefits and corporate finance metrics - interest coverage ratio |
title |
An extensive approach to unemployment insurance benefits and corporate finance metrics - interest coverage ratio |
spellingShingle |
An extensive approach to unemployment insurance benefits and corporate finance metrics - interest coverage ratio Fernandes, Rita Alexandra Costa Unemployment risk Unemployment insurance benefits Stakeholders Compensating wage differentials Capital structure Bank loans Debt maturity Interest coverage ratio Productivity Credit rating Employee welfare Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
title_short |
An extensive approach to unemployment insurance benefits and corporate finance metrics - interest coverage ratio |
title_full |
An extensive approach to unemployment insurance benefits and corporate finance metrics - interest coverage ratio |
title_fullStr |
An extensive approach to unemployment insurance benefits and corporate finance metrics - interest coverage ratio |
title_full_unstemmed |
An extensive approach to unemployment insurance benefits and corporate finance metrics - interest coverage ratio |
title_sort |
An extensive approach to unemployment insurance benefits and corporate finance metrics - interest coverage ratio |
author |
Fernandes, Rita Alexandra Costa |
author_facet |
Fernandes, Rita Alexandra Costa |
author_role |
author |
dc.contributor.none.fl_str_mv |
Soares, Margarida RUN |
dc.contributor.author.fl_str_mv |
Fernandes, Rita Alexandra Costa |
dc.subject.por.fl_str_mv |
Unemployment risk Unemployment insurance benefits Stakeholders Compensating wage differentials Capital structure Bank loans Debt maturity Interest coverage ratio Productivity Credit rating Employee welfare Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
topic |
Unemployment risk Unemployment insurance benefits Stakeholders Compensating wage differentials Capital structure Bank loans Debt maturity Interest coverage ratio Productivity Credit rating Employee welfare Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
description |
This paper investigates how differences in the unemployment insurance scheme across US states influence firms’ financial metrics. Over the 1981-2016 period, higher unemployment insurance benefits are associated with lower financial leverage through a crowding-out effect. In states with more generous UI benefits, creditors are willing to offer more favourable loan conditions, which translates into lower interest expenses, increasing the interest coverage ratio. No statistically significant relationship was found between unemployment insurance generosity and an increase in credit ratings. |
publishDate |
2023 |
dc.date.none.fl_str_mv |
2023-08-03T09:52:06Z 2023-01-13 2023-01-10 2023-01-13T00:00:00Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/masterThesis |
format |
masterThesis |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10362/156226 TID:203311329 |
url |
http://hdl.handle.net/10362/156226 |
identifier_str_mv |
TID:203311329 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
instname_str |
Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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1799138149238046720 |