Eisfeldt, Andrea L.; Rampini, Adriano A. - In: Review of Financial Studies 22 (2009) 4, pp. 1621-1657
This paper studies the financing role of leasing and secured lending. We argue that the benefit of leasing is that repossession of a leased asset is easier than foreclosure on the collateral of a secured loan, which implies that leasing has higher debt capacity than secured lending. However,...