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How Valuable Is Financial Flexibility when Revenue Stops? Evidence from the COVID-19 Crisis
Firms with greater financial flexibility should be better able to fund a revenue shortfall resulting from the COVID-19 shock and benefit less from policy responses. We find that firms with high financial flexibility within an industry experience a stock price drop that is 26%, or 9.7 percentage poin...
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| Publié dans: | Rev Financ Stud |
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| Auteurs principaux: | , , |
| Format: | Artigo |
| Langue: | Inglês |
| Publié: |
Oxford University Press
2020
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| Sujets: | |
| Accès en ligne: | https://ncbi.nlm.nih.gov/pmc/articles/PMC7798547/ https://ncbi.nlm.nih.govhttp://dx.doi.org/10.1093/rfs/hhaa134 |
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