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International Capital Structure Equilibrium
The Journal of Finance, 1990ABSTRACTThis paper develops a theory of capital structure in an international setting with corporate and personal taxes. We generalize the Miller analysis to an international equilibrium characterized by differential international taxation and inflation in otherwise perfect international capital markets.
Hodder, James E, Senbet, Lemma W
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Firm-Specific Human Capital and Optimal Capital Structure
International Economic Review, 1994Summary: We consider the moral hazard in managers undersupplying imperfectly- marketable firm-specific human capital. Firms may cope by granting long- term wage contracts that protect managers against employment termination. Although ex ante efficient, these contracts may be ex post inefficient when managerial ability is discovered to be low ...
Jaggia, Priscilla Butt, Thakor, Anjan V
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Capital Structure under Heterogeneous Beliefs
Review of Finance, 2010Abstract We develop a structural model to quantitatively analyze the effects of asymmetric beliefs and agency conflicts on capital structure. Capital structure reflects the dynamic tradeoff between the positive incentive effects of managerial optimism and the negative effects of risk-sharing costs.
Hae Won (Henny) Jung, Ajay Subramanian
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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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Integrative oncology: Addressing the global challenges of cancer prevention and treatment
Ca-A Cancer Journal for Clinicians, 2022Jun J Mao,, Msce +2 more
exaly
Capital Ownership, Capital Structure, and Capital Markets
2021David Higgins, Steven Toms
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Liquidity and Capital Structure
2006This paper solves for a firm's optimal cash holding policy within a continuous time, contingent claims framework that has been extended to incorporate most of the significant contracting frictions that have been identified in the corporate finance literature.
Ronald W. Anderson, Andrew Carverhill
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