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share of bond financing; and the dampening effect of a larger bond financing share also attenuates the ultimate impact of …We study how differences in the aggregate structure of corporate debt financing affect the transmission of monetary … initial share of bond- relative to bank-based finance; this effect weakens, and may even reverse, in economies with a low …
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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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