Lemmon is at BlackRock, Liu is at Hong Kong University of Science and Technology, Mao is at Erasmus University Rotterdam, and Nini is at The LeBow College of Business at Drexel University. We thank Cam Harvey (the Editor), an Associate Editor, and an anonymous referee. We have benefitted from discussions with Ann Rutledge from R&R consulting and Victor Hongwei Yu from Fangda Partners. We thank Darwin Choi, Sudipto Dasgupta, Fei Ding, Mei Feng, Todd Gormley, Vidhan Goyal, Amiyatosh Purnanandam, Mark Seasholes, Irina Stefanescu, Dragon Tang, Ke Tang, Chu Zhang, and seminar participants at Hong Kong University, Hong Kong University of Science and Technology, Cheung Kong Graduate School of Business, the University of Houston, the University of New South Wales, York University, Stanford, Wharton, the Australasian Finance & Banking Conference, the European Financial Management Asia Finance Symposium, the Asian Finance Association International Conference, the Financial Intermediation Research Society Conference, the Financial Management Association European Conference, and the 2012 China International Conference in Finance for helpful comments. We acknowledge financial support from Hong Kong RGC Competitive Earmarked Research Grant (Grant No: 641709). We thank Yuk Shan Liu, Siming Tian, and all students participating in 2008, 2009 HKUST UROP programs for their excellent research assistance. We especially thank Sanket Korgaonkar for invaluable assistance. All errors are our own. The paper previously circulated under the titles “Asset-backed securitization in industrial firms: An empirical investigation” and “Special purpose vehicles and nonfinancial corporate finance.”
Securitization and Capital Structure in Nonfinancial Firms: An Empirical Investigation
Version of Record online: 18 JUL 2014
© 2014 The American Finance Association
The Journal of Finance
Volume 69, Issue 4, pages 1787–1825, August 2014
How to Cite
LEMMON, M., LIU, L. X., MAO, M. Q. and NINI, G. (2014), Securitization and Capital Structure in Nonfinancial Firms: An Empirical Investigation. The Journal of Finance, 69: 1787–1825. doi: 10.1111/jofi.12128
- Issue online: 18 JUL 2014
- Version of Record online: 18 JUL 2014
- Accepted manuscript online: 18 NOV 2013 12:00AM EST
- Manuscript Accepted: 30 JUL 2013
- Manuscript Received: 24 NOV 2011
- Hong Kong RGC Competitive Earmarked Research Grant. Grant Number: 641709
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