BUSINESS SCHOOL RESEARCH SEMINAR - Credit Market Segmentation, Access to Credit, and Corporate Risk-taking: Evidence from Asset-backed Securitization

BUSINESS SCHOOL RESEARCH SEMINAR - Credit Market Segmentation, Access to Credit, and Corporate Risk-taking: Evidence from Asset-backed Securitization
-

The seminar will be held via Teams on October 23rd from 3pm - 4:15pm (contact: bs-research@abdn.ac.uk for link).

 

Join Dr Zhehao Jia, a Lecturer (Assistant Professor) in Finance at the University of Edinburgh. 

Abstract:

This study investigates the relationship between the use of asset-backed securitization (ABS) and corporate risk-taking. Utilizing hand-collected ABS data from 10-K filings, we provide robust evidence that firms with ABS borrowings exhibit more risk-taking, especially firms with larger ABS borrowing capacity and lower ABS credit consumption. Furthermore, our analysis suggests that the positive relationship between ABS borrowings and risk-taking is more pronounced for firms with less financial constraints, more liquidity constraints, smaller firm size, more board gender diversity, and female CEOs. Our findings support the theoretical view that low costs of capital, high asset liquidity, and good investment opportunities are associated with greater corporate risk-taking. Overall, our findings have important implications for practitioners and policymakers by demonstrating the potential benefits of ABS usage for non-financial firms.

Speaker
Dr Zhehao Jia
Hosted by
University of Aberdeen Business School
Contact

No booking required.

Add to Calendar

Add this event to your calendar application

Browse by Month

2024

  1. Jan There are no items to show for January 2024
  2. Feb There are no items to show for February 2024
  3. Mar There are no items to show for March 2024
  4. Apr There are no items to show for April 2024
  5. May There are no items to show for May 2024
  6. Jun There are no items to show for June 2024
  7. Jul There are no items to show for July 2024
  8. Aug There are no items to show for August 2024
  9. Sep
  10. Oct
  11. Nov
  12. Dec There are no items to show for December 2024

Search Events