Relative cost of capital for marginal firms over the business cycle
Abstract: The authors compare the effects of the business cycle on the cost of capital faced by small, distressed firms and their larger, more financially secure counterparts. The analysis draws on stock market returns data for a broad range of traded companies during the 1963-91 period.
File(s): File format is application/pdf http://www.newyorkfed.org/research/quarterly_review/1992v17/v17n3article4.pdf
Provider: Federal Reserve Bank of New York
Part of Series: Quarterly Review
Publication Date: 1992