Bankruptcy and the Collateral Channel
收藏NBER2010-01-01 更新2025-01-04 收录
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https://www.nber.org/papers/w15708
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Do bankrupt firms impose negative externalities on their non-bankrupt competitors? We propose and analyze a collateral channel in which a firm's bankruptcy reduces collateral values of other industry participants, thereby increasing the cost of external debt finance industry wide. To identify this
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美国国家经济研究局创建时间：
2010-01-01
