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Bank Liquidity Supply and Corporate Investment during the 2008-2009 Financial Crisis
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| 자료유형 | 학위논문 |
|---|---|
| 서명/저자사항 | Bank Liquidity Supply and Corporate Investment during the 2008-2009 Financial Crisis. |
| 개인저자 | Zhang, Wei. |
| 단체저자명 | University of Minnesota. Business Administration. |
| 발행사항 | [S.l.]: University of Minnesota., 2019. |
| 발행사항 | Ann Arbor: ProQuest Dissertations & Theses, 2019. |
| 형태사항 | 63 p. |
| 기본자료 저록 | Dissertations Abstracts International 81-03A. Dissertation Abstract International |
| ISBN | 9781088377574 |
| 학위논문주기 | Thesis (Ph.D.)--University of Minnesota, 2019. |
| 일반주기 |
Source: Dissertations Abstracts International, Volume: 81-03, Section: A.
Advisor: Winton, Andrew. |
| 이용제한사항 | This item must not be sold to any third party vendors. |
| 요약 | I document a line of credit channel through which bank liquidity supply shocks affected corporate investment during the 2008-2009 financial crisis. By exploiting the predetermined variation in the maturity structure of lines of credit, I find that firms whose last pre-crisis lines of credit became due at the time of the crisis (treated firms) cut investment by more than similar firms whose lines of credit were scheduled to mature after the crisis. Moreover, this effect is stronger for financially constrained firms, bank-dependent firms, and firms whose pre-crisis banks were unhealthy. Within the treated group, firms with unhealthy banks were less likely to obtain lines of credit in the crisis than those with healthy banks. Finally, in the sample of firms with lines of credit before the crisis, I find that those with unhealthy banks experienced lower growth in lines of credit and investment, but this effect is restricted only to unrated firms. |
| 일반주제명 | Finance. |
| 언어 | 영어 |
| 바로가기 | 
: 이 자료의 원문은 한국교육학술정보원에서 제공합니다. |
