Financial Constraints, Asset Tangibility, and Corporate Investment
收藏NBER2006-03-01 更新2025-01-04 收录
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https://www.nber.org/papers/w12087
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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
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美国国家经济研究局创建时间：
2006-03-01
