We analyze the employment effects of financial shocks using a rich data set of job contracts, matched with the universe of firms and their lending banks in one Italian region. To isolate the effect of the financial shock we construct a firm-specific time-varying measure of credit supply. The contraction in credit supply explains one fourth of the reduction in employment. This result is concentrated in more levered and less productive firms. Also, the relatively less educated and less skilled workers with temporary contracts are the most affected. Our results are consistent with the cleansing role of financial shocks.

We analyze the employment effects of financial shocks using a rich data set of job contracts, matched with the universe of firms and their lending banks in one Italian region. To isolate the effect of the financial shock we construct a firm-specific time-varying measure of credit supply. The contraction in credit supply explains one fourth of the reduction in employment. This result is concentrated in more levered and less productive firms. Also, the relatively less educated and less skilled workers with temporary contracts are the most affected. Our results are consistent with the cleansing role of financial shocks.

A leading workplace expert provides an inspirational, practical, and forward-looking career playbook for recent grads, career changers, and transitioning professionals looking to thrive in today’s rapidly evolving workplace. Covid-19 has heightened career uncertainty in a work landscape dominated by turbulence and change, and it is directly impacting how people are entering—or re-entering—the workplace. But as Lindsey Pollak makes clear, the pandemic merely accelerated career and hiring trends that have been building. Changes that were once slowly spreading have been rapidly implemented across all industries. This means that the old job hunting and career success rules no longer apply. Job seekers of all generations and skill sets must learn how to thrive in this “new normal,” which will include a hybrid of remote and in-person experiences, increased reliance on virtual communication and automation, constant disruption, and renewed employer emphasis on workers’ health and well-being. While this new world is complicated and constantly evolving, you won’t have to navigate it alone. For twenty years, Pollak has been following the trends and successfully advising young professionals and organizations on workplace success. Now, she guides you through the changes currently happening—and those to come. Combining insights from both experts and professionals across generations, she provides encouraging, strategic, and actionable advice on making lifelong decisions about education; building a resilient personal brand; using virtual communication to remotely interview, network, and work; skilling and reskilling for the future; and maintaining self-care and mental health. Like your personal GPS, Pollak equips you to handle workplace obstacles, helping you see them as challenges to navigate rather than impossible roadblocks. There is no perfect path to a dream career, but with Recalculating you’ll be prepared with the necessary skills and tools to succeed.

A top-notch resource for anyone who wants to break into the demanding world of investment banking For undergraduates and MBA students, this book offers the perfect preparation for the demanding and rigorous investment banking recruitment process. It features an overview of investment banking and careers in the field, followed by chapters on the core accounting and finance skills that make up the necessary framework for success as a junior investment banker. The book then moves on to address the kind of specific technical interview and recruiting questions that students will encounter in the job search process, making this the ideal resource for anyone who wants to enter the field. The ideal test prep resource for undergraduates and MBA students trying to break into investment banking Based on author Andrew Gutmann's proprietary 24 to 30-hour course Features powerful learning tools, including sample interview questions and answers and online resources For anyone who wants to break into investment banking, How to Be an Investment Banker is the perfect career-making guide.

A Wall Street Insider's Guide to getting ahead in any highly competitive industry "Dave learned how to win in investment banking the hard way. Now he is able to share tools that make it easier for budding bankers and other professionals to succeed." —Frank Baxter, Former CEO of Jefferies and U.S. Ambassador to Uruguay "A must-read for anyone starting their career in Corporate America. Dave's book shares witty and valuable insights that would take a lifetime to learn otherwise. I highly recommend that anyone interested in advancing their career read this book." —Harry Nelis, Partner of Accel and former Goldman Sachs banker In The Way of the Wall Street Warrior, 25-year veteran investment banker and finance professional, Dave Liu, delivers a humorous and irreverent insider’s guide to thriving on Wall Street or Main Street. Liu offers hilarious and insightful advice on everything from landing an interview to self-promotion to getting paid. In this book, you’ll discover: How to get that job you always wanted Why career longevity and “success” comes from doing the least amount of work for the most pay How mastering cognitive biases and understanding human nature can help you win the rat race How to make people think you’re the smartest person in the room without actually being the smartest person in the room How to make sure you do everything in your power to get paid well (or at least not get screwed too badly) How to turn any weakness or liability into an asset to further your career

Provides information on investment banking, covering the basics of financial markets, interviews, career paths, and job responsibilities.

Using a firm-level survey database covering 48 countries, Beck, Demirgüç-Kunt, and Maksimovic investigate whether differences in financial and legal development affect the way firms finance their investments. The results indicate that external financing of investments is not a function of institutions, although the form of external finance is. The authors identify two explanations for this. First, legal and financial institutions affect different types of external finance in offsetting ways. Second, firm size is an important determinant of whether firms can have access to different types of external finance. Larger firms with financing needs are more likely to use external finance compared with small firms. The results also indicate that these firms are more likely to use external finance in more developed financial systems, particularly debt and equity finance. The authors also find evidence consistent with the pecking order theory in financially developed countries, particularly for large firms. This paper--a product of Finance, Development Research Group--is part of a larger effort in the group to understand firms' access to financial services.

Focuses on the following three areas: (1) the impact of interstate banking on the structure of the banking industry; (2) the implications of removing interstate banking and branching laws on the safety and soundness of the banking industry; and (3) the risks associated with removing interstate banking and branching laws and ways to minimize such risks. Charts and tables.