Results 281 to 290 of about 3,215,272 (341)
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Review of Financial Studies, 2010 Firms commonly spread out their debt expirations across time to reduce the liquidity risk generated by large quantities of debt expiring at the same time. By doing so, they introduce a dynamic coordination problem. In deciding whether to rollover his debt, each maturing creditor is concerned about the rollover decisions of other creditors whose debt ...
Zhiguo He, Wei Xiong
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Dynamic debt issuance with jumps
Mathematics and Financial Economics, 2022zbMATH Open Web Interface contents unavailable due to conflicting licenses.
Andreea Minca, Johannes Wissel
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Critical debt and debt dynamics
Journal of Economic Dynamics and Control, 2000zbMATH Open Web Interface contents unavailable due to conflicting licenses.
Semmler, W. W., Sieveking, M.
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The Journal of Finance, 2005
ABSTRACTWe develop a dynamic trade‐off model with endogenous choice of leverage, distributions, and real investment in the presence of a graduated corporate income tax, individual taxes on interest and corporate distributions, financial distress costs, and equity flotation costs.
CHRISTOPHER A. HENNESSY, TONI M. WHITED
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ABSTRACTWe develop a dynamic trade‐off model with endogenous choice of leverage, distributions, and real investment in the presence of a graduated corporate income tax, individual taxes on interest and corporate distributions, financial distress costs, and equity flotation costs.
CHRISTOPHER A. HENNESSY, TONI M. WHITED
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SSRN Electronic Journal, 2015
We study a dynamic setting in which a firm chooses its debt maturity structure and default timing endogenously, both without commitment. The firm, who is waiting for the arrival of an upside event, commits to keep its outstanding bond face-values constant, but controls its debt maturity structure via the fraction of newly issued short-term bonds when ...
Zhiguo He, Konstantin Milbradt
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We study a dynamic setting in which a firm chooses its debt maturity structure and default timing endogenously, both without commitment. The firm, who is waiting for the arrival of an upside event, commits to keep its outstanding bond face-values constant, but controls its debt maturity structure via the fraction of newly issued short-term bonds when ...
Zhiguo He, Konstantin Milbradt
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Credit spreads with dynamic debt
Journal of Banking & Finance, 2013This paper extends the baseline Merton (1974) structural default model, which is intended for static debt spreads, to a setting with dynamic debt, where leverage can be ratcheted up as well as written down through pre-specified exogenous policies. We provide a different and novel solution approach to dynamic debt than in the extant literature. For many
Sanjiv Ranjan Das, Seoyoung Kim
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Debt dynamic, debt dispersion and corporate governance
International Journal of Managerial Finance, 2022PurposeThis paper addresses the following questions: Why do some firms employ multiple debt types? What explains debt heterogeneity? Is the choice of the source of debt a function of corporate governance?Design/methodology/approachThe author's paper is empirical and uses multiple regression analysis.FindingsFirms under weak corporate governance have a ...
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Optimal Debt Dynamics, Issuance Costs, and Commitment
Social Science Research Network, 2019We investigate optimal capital structure and debt maturity policies in the presence of fixed issuance costs. We identify the global-optimal policy that generates the highest values of equity across all states of nature consistent with limited liability ...
Luca Benzoni +4 more
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Cycles of susceptibility: Immunity debt explains altered infectious disease dynamics post -pandemic.
Clinical Infectious DiseasesThe concept of immunity debt is a phenomenon resulting from the suppression of endemic pathogens during the COVID-19 pandemic due to non-pharmaceutical interventions (NPIs).
A. Munro, Thomas House
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