Monetary policy shocks and distressed firms’ stock returns: Evidence from the publicly traded U.S. firms
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DOI: 10.1016/j.econlet.2017.09.009
Abstract: We study U.S. firms’ stock-return sensitivities to monetary policy shocks over the 2001–2015 period. Expansionary monetary shocks disproportionately increase returns of a distressed firm which has profit substantially smaller than its interest expense and is… read more here.
Keywords: policy shocks; shocks distressed; monetary policy; firms stock ... See more keywords