Financial frictions and firms’ capital composition: a structural estimation of firms’ borrowing constraints for the UK
UK firm-level analysis shows that interest rate spreads are less sensitive to capital-to-debt ratios for firms with higher intangible intensity, suggesting intangibles are less effective collateral than tangible assets.
Featured in No. 133 on 2 Oct 2026 · 11 days after release
- Released
- 21 Sep 2026
- First featured
- No. 133 · 2 Oct 2026
- Published in
- Not yet, as far as Semantic Scholar knows
- Fanfare
- 2 of 5
- Identifier
- RePEc:boe:boeewp:023254
- Authors
- Sara Holttinen et al.
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