Anatomy of Corporate Borrowing Constraints
Anatomy of Corporate Borrowing Constraints
About this item
Full title
Author / Creator
Lian, Chen and Ma, Yueran
Publisher
Oxford University Press
Journal title
Language
English
Formats
Publication information
Publisher
Oxford University Press
More information
Scope and Contents
Contents
Abstract
Macro-finance analyses commonly link firms’ borrowing constraints to the liquidation value of physical assets. For U.S. nonfinancial firms, we show that 20% of debt by value is based on such assets (asset-based lending in creditor parlance), whereas 80% is based predominantly on cash flows from firms’ operations (cash flow–based lending...
Alternative Titles
Full title
Anatomy of Corporate Borrowing Constraints
Authors, Artists and Contributors
Author / Creator
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Primary Identifiers
Record Identifier
TN_cdi_crossref_primary_10_1093_qje_qjaa030
Permalink
https://devfeature-collection.sl.nsw.gov.au/record/TN_cdi_crossref_primary_10_1093_qje_qjaa030
Other Identifiers
ISSN
0033-5533
E-ISSN
1531-4650
DOI
10.1093/qje/qjaa030
