significant amount of corporate debt, representing more than 5 percent of GDP, could be at risk in some countries, with an adverse …

We study the relationship between corporate debt, corporate risk and firm-level investment, using a sample of 25 … effect varies with risk, as measured by firm time-varying distance to default. Firms with higher market valuations and lower … low levels for some years to come, with impacts varying considerably depending on the economic sector and other risk …