I have this graph I like to show with "risk to company posed by changes" and "benefit to company posed by changes" on the y axis and "company entrenchment" on the x axis. The "benefit" graph starts out nearly vertical but quickly levels off. The "risk" is the inverse, starts off horizontal but quickly ramps up to infinity.
So I think that ZIRP has little effect on the "just say no" phenomenon, that's more about company size.
So I think that ZIRP has little effect on the "just say no" phenomenon, that's more about company size.