The influence of supply side factors on firm's borrowing decisions: European evidence
Gun-Ho Joh and
Global Finance Journal, 2018, vol. 35, issue C, 202-222
We investigate the influence of macroeconomic, and country-specific—supply side factors—on firms' borrowing decision while controlling for firm-specific factors due to the European financial crisis. We demonstrate that the crisis significantly shifted the supply side factors at the cost of firm-level factors in the post-2008 period. Our results are robust to the “tunnel test” and other sensitivity tests.
Keywords: Macroeconomic; Institutional; Bank debt; Firm-specific factors (search for similar items in EconPapers)
JEL-codes: F34 F36 G32 C12 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:glofin:v:35:y:2018:i:c:p:202-222
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