countries for the period 1982-2004. Using confidential data on the internal and total leverage of foreign affiliates of US … affiliate’s debt-to-assets ratio by 0.8%, which shows that rules targeting internal leverage have an indirect effect on the … overall indebtedness of affiliate firms. The impact of capitalization rules on affiliate leverage is higher if their …

. A sensitivity analysis suggests that the COVID-19 shock will have a substantial impact on firms' profitability …

After a steady increase following the global financial crisis, private nonfinancial sector leverage rose further during … empirical relationships between increased leverage, financial conditions, and macro-financial stability in a sample of major … advanced and emerging market economies. We find that loose financial conditions contribute to leverage buildups and generate an …

, robust to a battery of sensitivity checks, confirm corporate leverage is highly vulnerable to disruptions in profitability …-pronged approach to investigate the relationship between corporate leverage and fixed investment spending. The empirical analysis …