| 来源类型 | Working Paper
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| 规范类型 | 报告
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| DOI | 10.3386/w29890
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| 来源ID | Working Paper 29890
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| Disruption and Credit Markets |
| Bo Becker; Victoria Ivashina
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| 发表日期 | 2022-03-28
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| 出版年 | 2022
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| 语种 | 英语
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| 摘要 | We show that over the past half century innovative disruptions were central to understanding corporate defaults. In a given year, industries experiencing abnormally high VC or IPO activity subsequently see higher default rates, higher segment exits by conglomerates, and higher yields on bonds issued by the firms in these industries. Overall, we find that disruption is a broad phenomenon, negatively affecting incumbent firms across the spectrum of age, valuation, and levers, with the exception of very large and low-leverage firms, which confirms our central hypothesis. |
| 主题 | Financial Economics
; Portfolio Selection and Asset Pricing
; Corporate Finance
|
| URL | https://www.nber.org/papers/w29890
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| 来源智库 | National Bureau of Economic Research (United States)
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| 引用统计 |
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/587562
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推荐引用方式
GB/T 7714 |
Bo Becker,Victoria Ivashina. Disruption and Credit Markets. 2022.
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文件名：
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w29890.pdf
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格式：
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Adobe PDF
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