Results 211 to 220 of about 151,564 (261)
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THE CAPITAL STRUCTURE AND THE COST OF CAPITAL: COMMENT
The Journal of Finance, 1970IN A RECENT Journal article [1] Haim Ben-Shahar presented a theory of the firm's capital structure from the standpoint of the return-risk framework of investor behavior. He conducts his analysis under "the constraint that the investor has the opportunity to invest his own capital with any proportion of borrowed capital, either in one stock or in a ...
Litzenberger, Robert H, Jones, Charles P
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Contingent capital, capital structure and investment
The North American Journal of Economics and Finance, 2015We examine the interaction between investment and financing policies in a dynamic model for a firm with existing assets-in-place and a growth option, of which investment cost is financed with equity and contingent convertible bond (CoCo). We attempt to clarify how CoCo impacts on investment timing, capital structure and the inefficiencies arising from ...
Yingxian Tan, Zhaojun Yang
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Social Capital and Capital Structure
SSRN Electronic Journal, 2020I demonstrate that in the context of a Modigliani-Miller-type model that a firm financing social capital and physical capital will favor equity financing over debt financing without bankruptcy. With bankruptcy, debt financing will be used, but equity financing will be favored by firms that use large amounts of social capital, as it will increase their ...
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Liquidity and Capital Structure
SSRN Electronic Journal, 2009Abstract We examine the relation between equity market liquidity and capital structure. We find that firms with more liquid equity have lower leverage and prefer equity financing when raising capital. For example, after sorting firms into size quintiles and then into liquidity quintiles, the average debt-to-asset ratio of the most liquid quintiles is
Marc L. Lipson, Sandra Mortal
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Working Capital and Capital Structure
2020This chapter attempted to investigate how working capital and its components affect capital structure decisions of 1681 Indian MSMEs across a period of 12 years (2006–2017). The chapter results confirm that working capital and its components have a significant impact on both long-term and short-term debt use.
Nufazil Altaf, Farooq Ahmad Shah
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Dynamic Capital Structure and the Contingent Capital Option
SSRN Electronic Journal, 2010zbMATH Open Web Interface contents unavailable due to conflicting licenses.
BARUCCI, EMILIO, L. Del Viva
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Capital, Wages and Structural Unemployment
The Economic Journal, 1969Abstract This chapter explores the dynamics of a one-sector economy with (i) A generalized Phillips curve, letting wages or changes in wages be affected by the unemployment rate. (ii) Wages (including possibly the profile of future expected wages) affect not just savings but the capital intensity of newly installed machines (once ...
Akerlof, George A, Stiglitz, Joseph E
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ON THE CAPITAL STRUCTURE THEOREM: REPLY
The Journal of Finance, 1970IN A RECENT PAPER in this journal [1] I suggested a formulation of a cost of capital theorem, stating that "in equilibrium, within the range of efficient capital structure the firm's cost of capital is constant. As the firm moves to inefficient capital structure, the firm's cost of capital rises." This theorem was derived from the theory of investors ...
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