Why Do Bank-Dependent Firms Bear Interest-Rate Risk? /

I document that floating-rate loans from banks (particularly important for bank-dependent firms) drive most variation in firms' exposure to interest rates. I argue that banks lend to firms at floating rates because they themselves have floating-rate liabilities, supporting this with three key f...

Cur síos iomlán

Sonraí bibleagrafaíochta
Príomhchruthaitheoir: Kirti, Divya
Formáid: IRIS
Teanga:English
Foilsithe / Cruthaithe: Washington, D.C. : International Monetary Fund, 2017.
Sraith:IMF Working Papers; Working Paper ; No. 2017/003
Rochtain ar líne:Full text available on IMF