Results 301 to 310 of about 372,019 (338)
Brookings Papers on Economic Activity, 2003 This paper introduces the concept of debt intolerance,' which manifests itself in the extreme duress many emerging markets experience at debt levels that would seem manageable by advanced country standards. We argue that safe' external debt-to-GNP thresholds for debt intolerant countries are low, perhaps as low as 15 percent in some cases.
Reinhart, Carmen +2 more
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Debt Overhang and Debt Restructuring
SSRN Electronic Journal, 2012This paper analyzes how debt forgiveness and exchange offers resolve inefficiencies associated with debt overhang in a dynamic setting. In a static model debt forgiveness and exchange offers are equivalent -- in a dynamic model they are not. Debt forgiveness is feasible as a means to restructure debt when the firm expands into a competitive market ...
Norvald Instefjord, Pascal Frantz
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The Maturity Structure of Corporate Debt
, 1995The authors provide an empirical examination of the determinants of corporate debt maturity. Their evidence offers strong support for the contracting-cost hypothesis.
Michael J. Barclay, Clifford W. Smith
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SSRN Electronic Journal, 2015
Purpose This paper aims to examine jointly the CEO inside debt and firm debt to further investigate the compensation incentives on risky decision-making and the resulting financial policy decisions concerning the debt structure of the firm. Design/methodology/approach Using S&P 1500 data from CRSP, Compustat, Execucomp and Capital IQ between ...
Randy Beavers, Randy Beavers
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Purpose This paper aims to examine jointly the CEO inside debt and firm debt to further investigate the compensation incentives on risky decision-making and the resulting financial policy decisions concerning the debt structure of the firm. Design/methodology/approach Using S&P 1500 data from CRSP, Compustat, Execucomp and Capital IQ between ...
Randy Beavers, Randy Beavers
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Board Characteristics, Accounting Report Integrity, and the Cost of Debt
, 2003Creditor reliance on accounting-based debt covenants suggests that debtors are potentially concerned with board of director characteristics that influence the integrity of financial accounting reports.
Ronald C. Anderson, S. Mansi, D. Reeb
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Debt, Deleveraging, and the Liquidity Trap: A Fisher-Minsky-Koo Approach*
, 2012In this paper we present a simple New Keynesian-style model of debt-driven slumps – that is, situations in which an overhang of debt on the part of some agents, who are forced into rapid deleveraging, is depressing aggregate demand.
Gauti B. Eggertsson, P. Krugman
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Debt Maturity Structure and Liquidity Risk
, 1991This paper analyzes debt maturity structure for borrowers with private information about their future credit rating. Borrowers' projects provide them with rents that they cannot assign to lenders.
Douglas W. Diamond
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Italian Economic Journal
The public debt overhang spread across advanced countries, and the reform of the Stability and Growth Pact in the Euro Zone, have revived the polarization between those who think that debt is always good and those who think that debt is always bad. This paper presents a normative model of endogenous growth with debt-financed public capital. It is shown
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The public debt overhang spread across advanced countries, and the reform of the Stability and Growth Pact in the Euro Zone, have revived the polarization between those who think that debt is always good and those who think that debt is always bad. This paper presents a normative model of endogenous growth with debt-financed public capital. It is shown
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Founding Family Ownership and the Agency Cost of Debt
, 2003We investigate the impact of founding family ownership structure on the agency cost of debt. We find that founding family ownership is common in large, publicly traded firms and is related, both statistically and economically, to a lower cost of debt ...
Ronald C. Anderson, S. Mansi, D. Reeb
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