Plausibly Exogenous [1166] - Collateral (04/12/2023)
LHS Variable
Corporate risk management
RHS Variable
Collateral values
Source of Exogenous Variation
Staggered enactment of anti-recharacterization laws as a plausibly exogenous shock to the value of securitizing collateral through special purpose vehicles (SPVs)
- Fairhurst and Nam (2022), “Collateral Constraints, Financial Constraints, and Risk Management: Evidence From Anti-Recharacterization Laws”