| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13862 |
| DP13862 The Economic Costs of Financial Distress | |
| Cláudia Custódio; Miguel Ferreira; Emilia Garcia-Appendini | |
| 发表日期 | 2019-07-14 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | We estimate the economic costs of financial distress by exploiting cross-supplier variation in real estate assets and leverage, and the timing of real estate shocks. We show that for the same client buying from different suppliers, its purchases from suppliers in financial distress decline by an additional 10% following a drop in local real estate prices. The effect is more pronounced in more competitive industries, manufacturing and durable goods industries, for producers of less-specific goods, and when the costs of switching suppliers are low. Our results suggest that the indirect costs of financial distress are economically important. |
| 主题 | Financial Economics |
| 关键词 | Financial distress Economic distress Real estate prices Supply chain |
| URL | https://cepr.org/publications/dp13862 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/542738 |
| 推荐引用方式 GB/T 7714 | Cláudia Custódio,Miguel Ferreira,Emilia Garcia-Appendini. DP13862 The Economic Costs of Financial Distress. 2019. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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