Alder, Marie; Coimbra, Nuno; Szczerbowicz, Urszula - 2024
Using French firms’ balance sheet data, we show that corporate debt structure plays a significant role in ECB monetary … shocks is stronger for firms with a higher share of bank debt. Conversely, contractionary bond liquidity shocks lower … investment more for firms with higher bond shares of total debt. We further investigate the transmission channels and show that …