Corporate debt booms, financial constraints, and the investment nexus
Does corporate debt overhang affect investment over the medium term? To uncover this association, I measure debt overhang with a concept of debt accumulation or debt boom, and combine leverage with liquid assets to capture financial constraints. Using a large US firm-level panel over 1985Q1-2019Q1,...
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| Format: | other |
| Language: | eng |
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2021
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| Online Access: | http://hdl.handle.net/10316/95680 |
| Country: | Portugal |
| Oai: | oai:estudogeral.sib.uc.pt:10316/95680 |