Waisman, Maya; Ye, Pengfei; Zhu, Yun - In: Journal of Financial Stability 16 (2015) C, pp. 106-117
In this paper we bring new empirical evidence that political uncertainty is associated with higher corporate debt financing costs. Controlling for all bond and firm characteristics that could affect a firm's cost of debt financing, the uncertainty associated with the outcome of U.S. presidential...