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  • 标题:Debt and Investment: A Firm Level Evidence
  • 本地全文:下载
  • 作者:Fangping Peng ; Richard Cebula ; Maggie Foley
  • 期刊名称:Journal of Mathematical Finance
  • 印刷版ISSN:2162-2434
  • 电子版ISSN:2162-2442
  • 出版年度:2018
  • 卷号:08
  • 期号:01
  • 页码:119-126
  • DOI:10.4236/jmf.2018.81010
  • 语种:English
  • 出版社:Scientific Research Publishing
  • 摘要:In this study, the panel smooth transition model will be used to analyze the nonlinear relationship between debt and investment. It can be inferred from the results that debt drives investment when the debt level is relatively low. However, a rise in debt reaching the “threshold” level diminishes the chances of an increase in investments. The results above indicate: the current economic downturn being experienced will not be resolved by further leverage.
  • 关键词:Investment;Debt Threshold;Financial Stress
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