) quoted firms lower their long-term bank borrowings in favour of short-term borrowings, post monetary tightening, as compared … with unquoted firms. A disaggregated analysis based on firm size and leverage above a certain threshold validates these …

variable. As for explanatory variables, we put together a set of proxies for quality of bank governance and management, such as ….g. degree of Board independence, qualification of external auditors), stability of bank’s governing bodies (Management Board and … bank, stability of the governing bodies, involvement of well-established external auditors and also that strategic …