Monetary Policy Shocks, Financial Constraints and Firm-Level Equity Return: Panel Evidence
2022-10-08
The present paper investigates the effect of monetary policy shocks upon the equity returns of financially constrained and less-constrained firms in Malaysia for the 1990-2008 period using firm-level data. Monetary policy shocks are generated via a recursive structural VAR (SVAR) identification scheme that allows the monetary authority to set theContinue Reading