Dinlersoz, Emin Murat; Kalemli-Ozcan, Sebnem; Hyatt, … - 2019
We study the leverage of U.S. firms over their life cycles and the connection between firm leverage, firm growth, and … associated with a reduction in firm revenue and employment growth. Exploiting sectoral variation, we find that the leverage … dynamics over their life cycles. Firm age and size are systematically related to leverage for private firms but not for public …