Campello, Murillo; Giambona, Erasmo - Tinbergen Institute - 2011
easily repossess a firm’’s assets. Tangible assets, however, are often illiquid. We show that the redeployability of tangible … buildings). Consistent with a credit supply-side view of capital structure, we find that asset redeployability is a particularly … asset redeployability facilitates borrowing the most during periods of tight credit. Our work contributes new evidence to …