---
title: Crossing the Zero Lower Bound: Negative Interest Rates and Corporate Valuation
url: https://www.ml-quant.com/papers/ssrn/7512572/
site: ML-Quant (https://www.ml-quant.com)
updated: 2026-09-26
license: Summaries CC BY 4.0; links go to the original sources
index: https://www.ml-quant.com/llms.txt
identifier: SSRN 7512572
source_url: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=7512572
featured: 2026-09-25
citations: unknown
topic: Asset Pricing & Factors
---


# Crossing the Zero Lower Bound: Negative Interest Rates and Corporate Valuation

Comparing firms across the ECB's 2014 negative rate adoption shows treated European firms had higher valuations but reduced leverage, suggesting cash-flow and discount-rate channels dominate tax-shield effects.

- Source: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=7512572
- Identifier: SSRN 7512572
- Released: 2026-09-23
- First featured: Quant Letter No. 132 (2026-09-25): https://www.ml-quant.com/issues/2026-09-25/
- Citations (Semantic Scholar): not tracked
- Published in: not yet
- Topic: Asset Pricing & Factors
- Authors: Arun Upadhyay, Krishnan Dandapani, Marcos Velazquez

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