Duchin, Ran; Ozbas, Oguzhan; Sensoy, Berk A. - In: Journal of Financial Economics 97 (2010) 3, pp. 418-435
We study the effect of the recent financial crisis on corporate investment. The crisis represents an unexplored negative shock to the supply of external finance for non-financial firms. Corporate investment declines significantly following the onset of the crisis, controlling for firm fixed...
