Collateral and Secured Debt
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https://www.nber.org/papers/w33875
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资源简介：
We argue that firms assets, especially their tangible assets, serve as collateral restricting both secured and unsecured debt. Secured debt is explicitly collateralized, placing a lien on specific assets, which facilitates enforcement. Unsecured debt is backed by unencumbered assets and thus
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美国国家经济研究局创建时间：
2025-06-01
