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What is the effect of funding costs on the conditional probability of issuing a corporate bond? We study this question in a novel dataset covering 5610 issuances by US firms over the period from 1990 to 2014. Identification of this effect is complicated because of unobserved, common shocks such...
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policy. Using high-frequency financial market data to identify monetary policy shocks in a panel of euro area countries, we …
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-generation panel unit root tests provide consistent evidence that debt ratios are mean reverting, which supports the trade-off theory …The purpose of this paper is to investigate the stochastic behavior of corporate debt ratios utilizing a balanced panel … of 2,556 publicly traded US firms during the period 1997 - 2010. We partition the panel into ten economic sectors and …
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