The Sensitivity of Cash Savings to the Cost of Capital
收藏NBER2020-07-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w27517
下载链接
链接失效反馈官方服务：
资源简介：
We theoretically and empirically show that in the presence of a time-varying cost of capital (COC), firms save from external capital when the firm-specific COC is low to hedge against the risk of underinvestment due to a higher COC in the future. This hedging motive drives the sensitivity of cash
提供机构：
美国国家经济研究局
创建时间：
2020-07-01
