NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Sevcan Yesiltas

Koc University

E-Mail: syesiltas@ku.edu.tr

NBER Working Papers and Publications

September 2015How to Construct Nationally Representative Firm Level data from the ORBIS Global Database
with Sebnem Kalemli-Ozcan, Bent Sorensen, Carolina Villegas-Sanchez, Vadym Volosovych: w21558
Firm-level data on productivity, financial activity and firms' international linkages have become essential for research in the fields of macro, international finance and growth. This paper describes the development of a firm-level global panel dataset for public and private companies based on the administrative micro-dataset ORBIS, provided commercially by Bureau van Dijk Electronic Publishing (BvD). The ORBIS database provides data on firms' financial and productive activities from balance sheets and income statements together with detailed information on firms' domestic and international ownership structure for over 130 million companies across the world. Researchers need to overcome several challenges before making the database usable for research. First, the database is not designed f...
August 2011Leverage Across Firms, Banks, and Countries
with Sebnem Kalemli-Ozcan, Bent Sorensen: w17354
We present new stylized facts on bank and firm leverage for 2000-2009 using extensive internationally comparable micro level data from several countries. The main result is that there was very little buildup in leverage for the average non-financial firm and commercial bank before the crisis, but the picture was quite different for large commercial banks in the United States and for investment banks worldwide. We document the following patterns: a) there was an increase in leverage ratios of investment banks and financial firms during the early 2000s; b) there was no visible increase for commercial banks and non-financial firms; c) off balance-sheet items constitute a big fraction of assets, especially for large commercial banks in the United States; d) the leverage ratio is procyclical fo...

Published:

June 2011Leverage Across Firms, Banks and Countries
with Sebnem Kalemli-Ozcan, Bent Sorensen
in Global Financial Crisis, Charles Engel, Kristin Forbes, and Jeffrey Frankel, organizers
 
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