| Autor: |
Mohammad Zoynul Abedin, Qu Wenzhou, Mahbuba Aktar, Hijbulla Al Mahmud |
| Rok vydání: |
2021 |
| Předmět: |
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| Zdroj: |
Handbook of Research on Emerging Theories, Models, and Applications of Financial Econometrics ISBN: 9783030541071 |
| DOI: |
10.1007/978-3-030-54108-8_4 |
| Popis: |
This chapter aims to scrutinize the role of financial conditions of firms in deciding investment dynamic to monetary policy shocks. Considering leverage and cash holding as explanatory financial variables, firms with low leverage and high cash holding react more to monetary policy shocks in explaining the different investment levels of the firms. The interactions of the monetary policy shock variables are statistically insignificant for the high-leverage and low cash holding firms, but they are statistically significant for the low-leverage and high cash holding firms. This study enhances the literature of corporate investment behavior which can be helpful for developing and optimizing macro-control policies. These results may be of independent interest to policymakers who are concerned about the distributional ramifications of monetary policy across firms. |
| Databáze: |
OpenAIRE |
| Externí odkaz: |
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