The authors analyze the relationship between the development and asset allocation of contractual savings and firms' capital structures. The authors develop a simple model of firms' leverage and debt maturity decisions. They illustrate the mechanisms through which contractual savings development may affect corporate financing patterns. In the empirical section, the authors show that the development and asset allocation of contractual savings have an...
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INFORMATION
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2001/06/01
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Document de travail de recherche sur les politiques
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WPS2612
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1
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1
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2010/07/01
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Contractual savings, capital markets, and firms' financing choices
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contractual saving institution
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