About: Bailout Stigma

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An Entity of Type : schema:ScholarlyArticle, within Data Space : covidontheweb.inria.fr associated with source document(s)

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type	Academic Article research paper schema:ScholarlyArticle
isDefinedBy	Covid-on-the-Web dataset
title	Bailout Stigma
Creator	Che, Yeon-Koo Choe, Chongwoo Rhee, Keeyoung
source	ArXiv
abstract	We develop a model of bailout stigma where accepting a bailout signals a firm's balance-sheet weakness and worsens its funding prospect. To avoid stigma, a firm with high-quality legacy assets either withdraws from subsequent financing after receiving a bailout or refuses a bailout altogether to send a favorable signal. The former leads to a short-lived stimulation with subsequent market freeze even worse than if there were no bailout. The latter revives the funding market, albeit with delay, to the level achievable without any stigma. Strikingly, a bailout offer is most effective when many firms reject it (to build a favorable reputation) rather than accept it.
has issue date	2020-06-10(xsd:dateTime)
has license	arxiv
sha1sum (hex)	46bf3649cf57c0fec6e4243e22ed66689c57465a
resource representing a document's title	Bailout Stigma
resource representing a document's body	covid:46bf3649cf57c0fec6e4243e22ed66689c57465a#body_text
is schema:about of	named entity 'bailout' named entity 'Stigma' named entity 'FREEZE' named entity 'FUNDING' named entity 'BALANCE' »more»

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