Cash Holdings and Credit Risk
收藏NBER2011-04-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w16995
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资源简介：
Intuition suggests that firms with higher cash holdings are safer and should have lower credit spreads. Yet empirically, the correlation between cash and spreads is robustly positive and higher for lower credit ratings. This puzzling finding can be explained by the precautionary motive for saving
提供机构：
美国国家经济研究局
创建时间：
2011-04-01
