Sökning: "long-term debt dependence"

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  1. 1. How did the Expanded Asset Purchase Program Ease Firms Financial Constraints

    D-uppsats, Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

    Författare :Chunjie Wang; Yihui Feng; [2018]
    Nyckelord :The EAPP; long-term debt dependence; asymmetrical effect; reach for yield;

    Sammanfattning : This paper investigates whether the Expanded Asset Purchase Program (the EAPP), an unconventional monetary policy by the ECB has asymmetrical effects on non-financial firms in the eurozone. We note that the intervention of the ECB flattened the term structure and therefore conjecture that the EAPP has been more beneficial to firms that issue more long-term debts. LÄS MER