NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Leverage over the Life Cycle and Implications for Firm Growth and Shock Responsiveness

Emin Dinlersoz, Sebnem Kalemli-Ozcan, Henry Hyatt, Veronika Penciakova

NBER Working Paper No. 25226
Issued in November 2018, Revised in September 2019

---- Acknowledgments ----

Any opinions and conclusions expressed herein are those of the authors and do not necessarily represent the views of the U.S. Census Bureau or the National Bureau of Economic Research. All results have been reviewed to ensure that no confidential information is disclosed. We thank the participants of NBER Capital Markets group at the 2018 Summer Institute for comments.

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