Bris, Arturo; Koskinen, Yrjo Juhani; Pons-Sanz, Vicente … - School of Management, Yale University - 2001
Using data from 20 countries that have suffered a currency crisis, this paper studies firm-level leverage and performance before and after a crisis has occurred. First we provide some evidence of increasing leverage both before and after a crisis. We show that, in the years preceding a currency...