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COVID-19 and the cost of bond debt: The role of corporate diversification
We examine whether diversification is valuable in reducing the cost of debt for COVID-19-exposed firms. We find that although the pandemic has increased firms’ borrowing costs, both business and geographic diversifications reduce bond yield spreads for COVID-19-exposed firms. This highlights that th...
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| Formato: | Online Artículo Texto |
| Lenguaje: | English |
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Elsevier Inc.
2022
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| Acceso en línea: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8451396/ https://www.ncbi.nlm.nih.gov/pubmed/34566527 http://dx.doi.org/10.1016/j.frl.2021.102454 |