How Long to Read Non-Financial Corporate Debt in Advanced Economies, 2010–17

How Long Does it Take to Read Non-Financial Corporate Debt in Advanced Economies, 2010–17?

It takes the average reader and 35 minutes to read Non-Financial Corporate Debt in Advanced Economies, 2010–17 by Luiza Antoun de Almeida

Assuming a reading speed of 250 words per minute. Learn more

Description

This paper studies the evolution of non-financial corporate debt among publicly listed companies in major advanced economies between 2010 and 2017. Since 2010, firms have started to rely more on corporate bond markets and have used part of their debt to increase their holdings of cash. In our sample of some 5,000 firms, we find substantial differences across countries, industries, firms, and years in leverage and debt maturity, and we also identify time factors that are common drivers of capital structures. Within countries, loosening an index of financial conditions seems to be associated with lengthening debt maturity after controlling for firms’ characteristics. Across firms and countries, leveraging and lengthening debt maturity have been greater where economic growth was stronger. Tighter financial conditions are positively associated with an increase in short-term debt financing. Quantile regressions suggest that there is substantial heterogeneity among firms on how they react to macro-financial conditions: large increases in long-term debt financing and large declines in short-term debt financing tend to be driven more by better macroeconomic performance, while large increases in short-term debt financing are more strongly impacted by tighter financial conditions. Since the paper uses data up to 2017, it does not reflect developments that occurred during the coronavirus pandemic. Nonetheless, sensitivity analysis shows that a significant amount of corporate debt, representing more than 5 percent of GDP, could be at risk in some countries, with an adverse spillover to the financial system if financial conditions tighten or economic growth slows down. This suggests that vulnerabilities should be closely monitored and policy action taken if warranted.

How long is Non-Financial Corporate Debt in Advanced Economies, 2010–17?

Non-Financial Corporate Debt in Advanced Economies, 2010–17 by Luiza Antoun de Almeida is 35 pages long, and a total of 8,925 words.

This makes it 12% the length of the average book. It also has 11% more words than the average book.

How Long Does it Take to Read Non-Financial Corporate Debt in Advanced Economies, 2010–17 Aloud?

The average oral reading speed is 183 words per minute. This means it takes and 48 minutes to read Non-Financial Corporate Debt in Advanced Economies, 2010–17 aloud.

What Reading Level is Non-Financial Corporate Debt in Advanced Economies, 2010–17?

Non-Financial Corporate Debt in Advanced Economies, 2010–17 is suitable for students ages 8 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Non-Financial Corporate Debt in Advanced Economies, 2010–17?

Non-Financial Corporate Debt in Advanced Economies, 2010–17 by Luiza Antoun de Almeida is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.

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