NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Capital Structure and a Firm's Workforce

David A. Matsa

NBER Working Paper No. 25125
Issued in October 2018

---- Acknowledgments ----

I thank Jiaheng Yu and Yang Zhang for excellent research assistance and Matthew Serfling for sharing his data and code, which I used to develop the analysis shown in Table 2. For helpful comments, I am grateful to Ashwini Agrawal, Andrew Ellul, Ravi Jagannathan, James Naughton, and an anonymous reviewer. The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research.

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