供应链压力对财务杠杆的影响

IF 7.5 1区经济学 Q1 BUSINESS, FINANCE International Review of Financial Analysis Pub Date : 2025-02-01 DOI:10.1016/j.irfa.2024.103883

William Ginn , Jamel Saadaoui

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引用次数: 0

摘要

本研究调查了1998年第一季度至2024年第二季度美国经济中供给冲击对金融杠杆（债务权益比率）的影响。该研究采用线性和非线性局部预测（LP）和贝叶斯向量自回归（BVAR）模型来探索动态关系。虽然LP模型显示供应链冲击负向影响杠杆，统计结果显著，但没有证据表明国家依赖。BVAR模型表明，供应链冲击是破坏性的，通过减少（增加）产出（通货膨胀），伴随着较低的杠杆率。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Impact of supply chain pressures on financial leverage

This study investigates the impact of supply shocks on financial leverage (debt-equity ratio) in the U.S. economy from 1998:Q1 to 2024:Q2. The study employs a linear and non-linear Local Projections (LP) and Bayesian Vector Autoregression (BVAR) models to explore dynamic relationships. While the LP models reveal that a supply chain shock negatively affects leverage with statistically significant results, there is no evidence of state dependence. The BVAR model suggest that a supply chain shock is disruptive via reduction (an increase) in output (inflation), accompanied by lower leverage.

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来源期刊

International Review of Financial Analysis BUSINESS, FINANCE-

CiteScore

10.30

自引率

9.80%

发文量

366

期刊介绍： The International Review of Financial Analysis (IRFA) is an impartial refereed journal designed to serve as a platform for high-quality financial research. It welcomes a diverse range of financial research topics and maintains an unbiased selection process. While not limited to U.S.-centric subjects, IRFA, as its title suggests, is open to valuable research contributions from around the world.