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...
| Hlavní autor: | |
|---|---|
| Médium: | Časopis |
| Jazyk: | English |
| Vydáno: |
Washington, D.C. :
International Monetary Fund,
2017.
|
| Edice: | IMF Working Papers; Working Paper ;
No. 2017/003 |
| On-line přístup: | Full text available on IMF |