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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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Wedi'i Gadw mewn:
Manylion Llyfryddiaeth
Cyhoeddwyd yn:Rev Financ Stud
Prif Awduron: Fahlenbrach, Rüdiger, Rageth, Kevin, Stulz, René M
Fformat: Artigo
Iaith:Inglês
Cyhoeddwyd: Oxford University Press 2020
Pynciau:
Mynediad Ar-lein:https://ncbi.nlm.nih.gov/pmc/articles/PMC7798547/
https://ncbi.nlm.nih.govhttp://dx.doi.org/10.1093/rfs/hhaa134
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