This paper investigates the link between corporate debt and investment for a group of five peripheral euro area …

two non-stressed euro area economies, we show that "zombie" firms generally continued to lever up during the 2010 … tied to weak banks in euro area periphery countries increase their indebtedness even further. Sustainable economic recovery …

empirical analysis is based on a large Orbis-iBACH firm-level data set for euro area countries from 2005 to 2018. Our results …