Corporate Governance and Corporate Financing and Investment during the 2007-2008 Financial Crisis
H.G. (Lily) Nguyen and
Financial Management, 2015, vol. 44, issue 1, 115-146
type="main"> We examine the impact of the 2007-2008 financial crisis on nonfinancial firms’ financing and investment activities and the role of corporate governance in alleviating the adverse consequences of the external capital supply shock. Employing a difference-in-differences research design, we find that better governance mitigates the disruption caused by the bank credit supply shock to firms’ financing and investment activities. A variety of robustness tests suggest that our findings are unlikely to be driven by an endogeneity problem. We obtain similar results when we extend the sample period to include the delayed spillover from the banking sector to other capital market sectors.
References: View references in EconPapers View complete reference list from CitEc
Citations View citations in EconPapers (5) Track citations by RSS feed
Downloads: (external link)
Access to full text is restricted to subscribers.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:bla:finmgt:v:44:y:2015:i:1:p:115-146
Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0046-3892
Access Statistics for this article
Financial Management is currently edited by William G. Christie
More articles in Financial Management from Financial Management Association International Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().