Bayraktar, Nihal (contributor); … - 2005
. Bernanke, Gertler and Gilchrist
(1999) review the literature that provides theoretical justi�cation for this
formulation.
We … external �nance premium, which is linear in the leverage ratio.
16 Some examples of these studies are: Bernanke and Gertler … (1990), Bernanke, Camp-
bell and Whited (1990), Whited (1992), Hu and Schiantarelli (1998), and Gilchrist and
Himmelberg …