Bank of Israel: riskier firms still turn to banks for funding
A Bank of Israel paper published in the central bank's twice-yearly Economic Review on Thursday examines the characteristics of firms with bank credit that issued bonds on the Tel Aviv Stock Market (TASE) during the boom years, and find mostly higher-quality firms issued bonds on the stock exchange, while low profit firms prefer bank loans.
Michael Zilberberg and David Ruthenberg, the paper's authors, use a logit model to differentiate between firms that have issued bonds on the TASE and those
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