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' provision of liquidity insurance in the form of credit lines, their significance in managing corporate liquidity, and the …
Persistent link: https://www.econbiz.de/10014437040
The crisis of 2007-09 has been characterized by a sudden freeze in the market for short-term, secured borrowing. We present a model that can explain a sudden collapse in the amount that can be borrowed against finitely-lived assets with little credit risk. The borrowing in this model takes the...
Persistent link: https://www.econbiz.de/10012462978
liquidity may be related positively to the longer-term probability of default. Our empirical analysis confirms these predictions …
Persistent link: https://www.econbiz.de/10012461663