This paper evaluates and compares the effects of conventional and unconventional monetarypolicies on the corporate debt structure in the United States. It does so by using a vectorautoregression in which policy shocks are identified through high-frequency external instruments.Our results show...

A J-SC can raise capital either by issuing equity in the form of preference or ordinary shares or by issuing bonds as debt capital. In case of issuing bonds, a company undertakes to pay interest on the par value of the bonds and to redeem the bonds upon their maturity. Share issuance is...

We causally identify the implications of relaxing the Supplementary Leverage Ratio in April 2020 for bank balance sheet composition and credit provision. Our findings suggest that this risk-invariant leverage ratio was binding for banks, weakly affected bank liquidity provision in Treasury...

The non-financial corporations' debt to surplus ratio provides an indication of the capacity of non-financial corporations to meet the cost of interest and debt repayments with the operational profits generated. Debt is calculated as the sum the following liability categories: currency and...

The debt-to-equity ratio is a measure of a corporation's financial leverage, and shows to which degree companies finance their activities with equity or with debt. It is calculated by dividing the total amount of debt of financial corporations by the total amount of equity liabilities (including...

This study examines the heterogeneity of liquidity effect on leverage and the propensity of zero leverage. Using U.S. public firms from 1990 to 2017, we demonstrate that the stock liquidity has significantly negative effects on total debt and secured debt while insignificant effects on unsecured...

Germany is a reluctant supporter of the EU funds which are being used in the ‘bailout' of Ireland, and it insists on strict ‘austerity' conditions, concerned about risk and moral hazard.However, through its central bank, Germany is lending €325bn (December 2010) to other central banks in...