The pitfalls of pledgeable cash flows : soft budget constraints, zombie lending and under-investment
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More about this item
Keywords
Pledgeability ; Investment efficiency ; Soft budget constraint ; Asymmetric information ; Collateral ; Zombie lending ; Under-investment;All these keywords.
JEL classification:
- G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
- G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
- G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation
- G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
NEP fields
This paper has been announced in the following NEP Reports:- NEP-BAN-2021-03-08 (Banking)
- NEP-CFN-2021-03-08 (Corporate Finance)
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