Is Cash Negative Debt? A Hedging Perspective on Corporate Financial Policies
收藏NBER2005-06-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w11391
下载链接
链接失效反馈官方服务：
资源简介：
We model the interplay between cash and debt policies in the presence of financial constraints. While saving cash allows financially constrained firms to hedge against future income shortfalls, reducing debt - "saving borrowing capacity" - is a more effective way of securing future investment in
提供机构：
美国国家经济研究局
创建时间：
2005-06-01
