Results 211 to 220 of about 2,437 (267)
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2023
Abstract This chapter discusses the forms of real security that companies can give to lenders. Topics covered include the advantages of being a secured creditor, economic perspectives on secured debt, freedom of contract, consensual security interests, forms of property that can be used as security, forms of consensual real security ...
Eilís Ferran +2 more
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Abstract This chapter discusses the forms of real security that companies can give to lenders. Topics covered include the advantages of being a secured creditor, economic perspectives on secured debt, freedom of contract, consensual security interests, forms of property that can be used as security, forms of consensual real security ...
Eilís Ferran +2 more
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2021
Social security has been debated to be one of the contributors of sovereign debt, especially during the latest (2008) financial crisis and the debt crisis that followed it. A series of econometric models is employed to find evidence that (at a significance level that depends on the model) public debt is positively correlated with pension assets ...
Thomas Poufinas +2 more
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Social security has been debated to be one of the contributors of sovereign debt, especially during the latest (2008) financial crisis and the debt crisis that followed it. A series of econometric models is employed to find evidence that (at a significance level that depends on the model) public debt is positively correlated with pension assets ...
Thomas Poufinas +2 more
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Secured debt and managerial incentives
Review of Quantitative Finance and Accounting, 2011Financial theory holds that firms can control agency costs through the use of short-term and secured debt. We examine the relation between the use of secured debt and the incentive of the manager to increase the risk of the firm, as measured by vega. We find that firms utilize secured debt to a lesser extent when managerial volatility sensitivity is ...
Michael J. Alderson +2 more
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Journal of Accounting Research, 1999
This paper exploits the features of trust preferred stock to examine several tax and financial reporting issues. Trust preferred stock, first issued in 1993, was engineered to be treated as preferred stock for financial statement purposes and as debt for tax purposes (i.e., payments on trust preferred stock are deductible by the issuer).' Our analyses ...
Ellen Engel +2 more
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This paper exploits the features of trust preferred stock to examine several tax and financial reporting issues. Trust preferred stock, first issued in 1993, was engineered to be treated as preferred stock for financial statement purposes and as debt for tax purposes (i.e., payments on trust preferred stock are deductible by the issuer).' Our analyses ...
Ellen Engel +2 more
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SSRN Electronic Journal, 2002
This paper argues for an efficiency account of secured debt and against an externalization account. It describes the results of an investigation into firms' use of secured debt. I interviewed over twenty lawyers, bankers, and business people who are experts in this area and made use of my own knowledge as a former corporate lawyer.
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This paper argues for an efficiency account of secured debt and against an externalization account. It describes the results of an investigation into firms' use of secured debt. I interviewed over twenty lawyers, bankers, and business people who are experts in this area and made use of my own knowledge as a former corporate lawyer.
openaire +1 more source
Journal of Financial Economics, 1985
Abstract This paper analyzes the pricing of two types of secured debt and shows that secured debt can be used to increase the value of the firm. In particular, it is shown that some profitable projects will not be undertaken by a firm which can use only equity or unsecured debt to finance them but will be undertaken if they can be financed with ...
RenéM. Stulz, Herb Johnson
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Abstract This paper analyzes the pricing of two types of secured debt and shows that secured debt can be used to increase the value of the firm. In particular, it is shown that some profitable projects will not be undertaken by a firm which can use only equity or unsecured debt to finance them but will be undertaken if they can be financed with ...
RenéM. Stulz, Herb Johnson
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2014
Abstract Debt instruments obligate an issuer to make interest payments and repay principal to the buyer according to the terms of an agreement between the lender and the borrower. The yield, or market price of these debt securities is related to the yield on U.S. Treasury securities.
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Abstract Debt instruments obligate an issuer to make interest payments and repay principal to the buyer according to the terms of an agreement between the lender and the borrower. The yield, or market price of these debt securities is related to the yield on U.S. Treasury securities.
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2007
Abstract The legal life of the debt (or the ‘claim’, as it is referred to by some secured transactions laws) secured by a security right is not a matter for security law but for contract law.1 Security law must, however, determine three general points with respect to the debt secured by the security right::
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Abstract The legal life of the debt (or the ‘claim’, as it is referred to by some secured transactions laws) secured by a security right is not a matter for security law but for contract law.1 Security law must, however, determine three general points with respect to the debt secured by the security right::
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SSRN Electronic Journal, 2019
ABSTRACTThe share of secured debt issued (as a fraction of total corporate debt) declined steadily in the United States over the twentieth century. This stems partly from financial development giving creditors greater confidence that high‐quality borrowers will respect their claims even if creditors do not obtain security upfront.
EFRAIM BENMELECH +2 more
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ABSTRACTThe share of secured debt issued (as a fraction of total corporate debt) declined steadily in the United States over the twentieth century. This stems partly from financial development giving creditors greater confidence that high‐quality borrowers will respect their claims even if creditors do not obtain security upfront.
EFRAIM BENMELECH +2 more
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2021
The 2003 reform introduced the possibility for SRLs to issue debt securities, governed by Article 2483 of the Italian Civil Code.The Chapter aims to provide a complete description of all aspects of this new form of financing, including the general characteristics of debt securities, the decision to issue debt securities, changes to the terms and ...
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The 2003 reform introduced the possibility for SRLs to issue debt securities, governed by Article 2483 of the Italian Civil Code.The Chapter aims to provide a complete description of all aspects of this new form of financing, including the general characteristics of debt securities, the decision to issue debt securities, changes to the terms and ...
openaire +2 more sources