Working Paper
The effect of SEC amendments to rule 2A-7 on the commercial paper market
Crabbe, Leland; Post, Mitchell A. (1992)
Finance and Economics Discussion Series , Paper 199

Working Paper
Debt maturity and the use of interest rate derivatives by non-financial firms
Fenn, George W.; Post, Mitchell A.; Sharpe, Steven A. (1996)
We develop and test a simple model of a firm's optimal debt maturity and its demand for interest rate swaps using 1994 data of over 4000 nonfinancial corporations. As in other models of derivative use, ours predicts a systematic relationship between a firm's swap position and the interest-sensitivity of its cash flow. We test this by estimating the cross-sectional relationship between a firm's swap position and: (1) the amount of short-term and floating-rate debt in its capital structure; and (2) the interest-sensitivity of its EBITD. We find strong evidence that firms use swaps to hedge ...
Finance and Economics Discussion Series , Paper 96-36

Working Paper
Does corporate lending by banks and finance companies differ? Evidence on specialization in private debt contracting
Post, Mitchell A.; Carey, Mark S.; Sharpe, Steven A. (1996)
This paper establishes empirically that specialization in private-market corporate lending exists, adding a new dimension to the public vs. private debt distinctions now common in the literature on debt contracting and financial intermediation. Using a large database of individual loans, we compare lending by finance companies to that by banks. The evidence implies that it is intermediaries in general that are special in solving information problems, not banks in particular. But lending by the two types of institutions is not identical. Finance companies tend to serve observably riskier ...
Finance and Economics Discussion Series , Paper 96-25

Working Paper
The effect of a rating change on commercial paper outstandings
Crabbe, Leland; Post, Mitchell A. (1992)
Finance and Economics Discussion Series , Paper 185

Conference Paper
Does lending by banks and finance companies differ?
Post, Mitchell A.; Carey, Mark S.; Sharpe, Steven A. (1996)
Proceedings , Paper 508

Journal Article
The evolution of the U.S. commercial paper market since 1980
Post, Mitchell A. (1992-12)
Federal Reserve Bulletin , Issue Dec