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Crossing the Zero Lower Bound: Negative Interest Rates and Corporate Valuation

Comparing firms across the ECB's 2014 negative rate adoption shows treated European firms had higher valuations but reduced leverage, suggesting cash-flow and discount-rate channels dominate tax-shield effects.

Featured in No. 132 on 25 Sep 2026 · 2 days after release

Released
23 Sep 2026
First featured
No. 132 · 25 Sep 2026
Published in
Not yet, as far as Semantic Scholar knows
Fanfare
2 of 5
Identifier
SSRN 7512572
Authors
Arun Upadhyay et al.

Citations and venue from Semantic Scholar (ODC-BY), refreshed weekly. Summary: Quant Letter (CC BY 4.0).

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