Impact of supply chain pressures on financial leverage

被引：6

作者：

Ginn, William ^{[1
,2
]}

Saadaoui, Jamel ^{[3
]}

机构：

[1] Labcorp, Artificial Intelligence, Raritan, NJ USA

[2] Coburg Univ Appl Sci, Coburg, Germany

[3] Univ Paris 08, IEE, LED, 2 Rue Liberte, St Denis, France

来源：

INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS | 2025年 / 98卷

关键词：

Supply chain; Leverage; Local projections; Economic conditions; Bayesian VAR; CAPITAL STRUCTURE; GLITCHES; POLICY; FIRMS; RISK;

D O I：

10.1016/j.irfa.2024.103883

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This study investigates the impact of supply shocks on financial leverage (debt-equity ratio) in the U.S. economy from 1998:Q1 to 2024:Q2. The study employs a linear and non-linear Local Projections (LP) and Bayesian Vector Autoregression (BVAR) models to explore dynamic relationships. While the LP models reveal that a supply chain shock negatively affects leverage with statistically significant results, there is no evidence of state dependence. The BVAR model suggest that a supply chain shock is disruptive via reduction (an increase) in output (inflation), accompanied by lower leverage.

引用

页数：19

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