Financial Constraints, Asset Tangibility, and Corporate Investment
收藏NBER2006-03-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w12087
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资源简介：
When firms are able to pledge their assets as collateral, investment and borrowing become endogenous: pledgeable assets support more borrowings that in turn allow for further investment in pledgeable assets. We show that this credit multiplier has an important impact on investment when firms face
提供机构：
美国国家经济研究局
创建时间：
2006-03-01
