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Book Cover
Author Jaeger, Albert, author

Title Corporate balance sheet restructuring and investment in the euro area / Albert Jaeger
Published [Washington, D.C.] : International Monetary Fund, [2003]
Online access available from:
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Description 1 online resource (23 pages) : illustrations
Series IMF working paper ; WP/03/117
IMF working paper ; WP/03/117
Summary The recent boom-bust cycle in the euro area's equity valuations has left nonfinancial corporations saddled with a legacy of high debt or leverage. Models of corporate investment behavior based on imperfect capital markets predict that highly leveraged balance sheets can act as a brake on investment spending. The paper's empirical analysis suggests that leverage effects on corporate investment can be substantial and persistent, particularly if leverage exceeds threshold values
Bibliography Includes bibliographical references (pages 22-23)
Notes Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. MiAaHDL
digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL
Print version record
Subject Business cycles -- European Union countries.
Corporations -- European Union countries -- Finance.
Economic forecasting -- European Union countries.
Investments -- European Union countries.
Form Electronic book
Author International Monetary Fund. European I Department.
ISBN 1451899459