Financial Constraints, Monetary Policy Shocks, and the Cross-Section of Equity Returns
Sign Up to like & getrecommendations! Published in 2019 at "Review of Financial Studies"
DOI: 10.1093/rfs/hhz140
Abstract: We analyze the impact ofa unanticipated monetary policy changes on the cross-section of U.S. equity returns. Financially constrained firms earn a significantly lower (higher) return following surprise interest rate increases (decreases) as compared to unconstrained… read more here.
Keywords: section equity; equity returns; cross section; monetary policy ... See more keywords