【Key Words】income and sickness shock, risk coping measures, assets, Vietnamese farm household 【JEL codes】 D91, O16 【Abstract】 Income variability and additional medical consumption should be major shocks for farm households in developing countries. This paper investigates risk coping measures against these different types of shocks using Vietnamese Living Standard Measurement Study. Estimating r...

This paper investigates the impact of asset liquidity on the valuation of corporate securities and the firm’s financing decisions. I show that asset liquidity increases debt capacity only when bond covenants restrict the disposition of assets. By contrast, I demonstrate that, with unsecured debt, greater liquidity increases credit spreads on corporate debt and reduces optimal leverage. The mode...