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@inproceedings{1395124,
author = {Linnertová, Dagmar and Kajurová, Veronika},
address = {Brno},
booktitle = {14th International Scientific Conference on European Financial Systems 2017},
editor = {Jan Krajíček},
keywords = {monetary policy; interest rate; transmission mechanism; balance sheet channel},
howpublished = {tištěná verze "print"},
language = {eng},
location = {Brno},
isbn = {978-80-210-8609-8},
pages = {492-497},
publisher = {Masarykova univerzita},
title = {Effect of zero lower bound on large firms financing in the Czech Republic},
url = {https://is.muni.cz/do/econ/sborniky/70896034/Proceedungs_EFS2017-Draft.pdf},
year = {2017}
}
TY - JOUR
ID - 1395124
AU - Linnertová, Dagmar - Kajurová, Veronika
PY - 2017
TI - Effect of zero lower bound on large firms financing in the Czech Republic
PB - Masarykova univerzita
CY - Brno
SN - 9788021086098
KW - monetary policy
KW - interest rate
KW - transmission mechanism
KW - balance sheet channel
UR - https://is.muni.cz/do/econ/sborniky/70896034/Proceedungs_EFS2017-Draft.pdf
N2 - The effect of monetary policy might be analyzed using several channels. One of these channels is known as the balance sheet channel and shows how monetary policy affects the credit portfolio of financial intermediaries as well as other economic agents. For instance, a contractionary monetary policy would affect banks' ability to grant loans, leading to credit rationing. This has implications for credit availability to borrowers, especially small-scale borrowers with less sophistication and collateral to back-up their loan demand. Most of the current studies aiming to analyze the balance sheet channel during the monetary tighten period. The purpose of our study is to investigate the changes in financial structure of Czech blue chips traded in the PSE during the period of zero lower bound. Firm-level financial data for Czech firms are gathered from Bloomberg terminal and Amadeus database and panel regression is employed to determinant how financing indicators react to monetary policy changes.
ER -
LINNERTOVÁ, Dagmar and Veronika KAJUROVÁ. Effect of zero lower bound on large firms financing in the Czech Republic. In Jan Krajíček. \textit{14th International Scientific Conference on European Financial Systems 2017}. Brno: Masarykova univerzita, 2017, p.~492-497. ISBN~978-80-210-8609-8.
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