Why does lowering interest rates transfer incomes from households to corporations? In Financial Market, Public Policy, and the East Asian Miracle by Stiglitz and Uy (World Bank Research Observer, vol. 11, no.2, 1996), the authors state that:


  Lowering interest rates transfers incomes from households to corporations, and because the corporate sector has a higher propensity to save, aggregate saving increases.


Why does lowering interest rates benefit corporations over households? Is this presupposing that households are net savers, not net borrowers, and that corporations are the opposite?
A student of mine came up with a very plausible explanation for this statement. I think he's almost certainly on the right lines.


Low interest rates encourage consumption spending and discourage saving. (They might also encourage people to take out loans to fund consumption spending.) 
Consumption spending transfers money from households (who are buying goods/services) to corporations (from whom they're buying).
These corporations are assumed to save at a higher rate than households (see the quote in the question), so increased corporate savings more than offset the decrease in household savings.


It's obvious once you think about it!