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...
| Auteur principal: | |
|---|---|
| Format: | Revue |
| Langue: | English |
| Publié: |
Washington, D.C. :
International Monetary Fund,
2017.
|
| Collection: | IMF Working Papers; Working Paper ;
No. 2017/003 |
| Accès en ligne: | Full text available on IMF |