Document Type

Article

Version Deposited

Published Version

Publication Date

1-2014

Publication Title

The International Journal of Business and Finance Research

Abstract

The financial crisis of 2008, and the associated bear market lasting from October 2007 to March 2009, has had a significant impact on a broad cross section of firms in the global economy. Of particular interest to us in this study is the effect of this time period on the financial characteristics of firms, with extra focus on debt-related ratios. Using a large sample of U.S. firms from the COMPUSTAT database, we find that firms, on average, come out of the financial crisis with less insolvency and bankruptcy risk, more efficient asset utilization, and more attractive market valuations.

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With this email, we grant Campbell Library, Rowan University permission to permanently add articles published by its faculty members in any of the Institute for Business and Finance Research journals to institutional repository, Rowan Digital Works, only and for non-profit use only. Deposit of such work must occur after publication with full citation.

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