RT info:eu-repo/semantics/article
T1 Beneath the surface: The asymmetric effects of unconventional monetary policy on corporate investment
A1 Horra Ruiz, Luis Pablo de la
A1 Perote, Javier
A1 Fuente Herrero, Gabriel de la
K1 Panel VAR
K1 Corporate investment
K1 Monetary policy
K1 Investment irreversibility
K1 Bond yields
AB This paper explores the asymmetric effects of unconventional monetary policy on corporate investment in the aftermath of the Great Recession. Using a comprehensive dataset of US listed firms, our research unveils a compelling insight: firms with higher investment irreversibility and market power are less responsive to fluctuations in corporate bond yields following an unconventional monetary policy announcement. These results emphasize the critical importance of taking into consideration firm-specific characteristics when formulating monetary policy, providing valuable insights for central banks aiming to enhance the effectiveness of their policies.
PB Elsevier
SN 1544-6123
YR 2024
FD 2024
LK https://uvadoc.uva.es/handle/10324/72896
UL https://uvadoc.uva.es/handle/10324/72896
LA eng
NO Finance Research Letters, 2024, vol. 61, 105050
NO Producción Científica
DS UVaDOC
RD 22-dic-2024