Almeida, Heitor; Campello, Murillo; Laranjeira, Bruno; … - In: Critical Finance Review 1 (2012) 1, pp. 3-58
We use the August 2007 crisis episode to gauge the <italic>causal effect</italic> of financial contracting on real firm behavior. We identify heterogeneity in financial contracting at the onset of the crisis by exploiting <italic>ex-ante</italic> variation in long-term debt maturity structure. Using a difference-in-differences...