The Effects of Single Monetary Policy on Financial Position of Firms in the Slovak Republic
| Authors | |
|---|---|
| Year of publication | 2018 |
| Type | Article in Periodical |
| Magazine / Source | Ekonomický časopis |
| MU Faculty or unit | |
| Citation | |
| web | https://www.sav.sk/journals/uploads/0821095907%2018%20Kajurova-Linnertova%20+%20RS.pdf |
| Keywords | financial position; low interest rates; monetary policy; negative interest rates |
| Attached files | |
| Description | The European Central Bank started to stimulate Eur opean economies in 2009 since the countries of the European Union have been facing a low growth and low inflation after both the global financial and s overeign debt crisis. The aim of the paper is to evaluate the effects of very low and negative interest rates on the financial position of manufacturing firms in th e Slovak Republic using the balance sheet channel. The results confirm that fir m-specific determinants affect the capital structure of firms. When assessing the impact of monetary policy on the financial structure in the environment of low i nterest rates, our findings sup- port the existence of the balance sheet channel in the Slovak Republic, which is apparent in short-term structure. |
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