| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w5143 |
| 来源ID | Working Paper 5143 |
| The Paradox of Liquidity | |
| Stewart C. Myers; Raghuram G. Rajan | |
| 发表日期 | 1995-06-01 |
| 出版年 | 1995 |
| 语种 | 英语 |
| 摘要 | The more liquid a company's assets, the greater their value in a short-notice liquidation. Liquid assets are generally viewed as increasing debt capacity, other things being equal. This paper focusses on the dark side of liquidity: greater liquidity reduces the ability of borrowers to commit to a specific course of action. It examines the effects of differences in asset liquidity on debt capacity. It suggests an alternative theory of financial intermediation and disintermediation. |
| 主题 | Financial Economics ; Financial Institutions ; Corporate Finance |
| URL | https://www.nber.org/papers/w5143 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/562583 |
| 推荐引用方式 GB/T 7714 | Stewart C. Myers,Raghuram G. Rajan. The Paradox of Liquidity. 1995. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w5143.pdf（1308KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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