Results 171 to 180 of about 1,949 (214)

Capital Structure and Debt Priority

Financial Management, 2011
We study a defaultable firm's debt priority structure in a simple structural model where the firm issues senior and junior bonds and is subject to both liquidity and solvency risks. Assuming that the absolute priority rule prevails and that liquidation is immediate upon default, we determine the firm's interior optimal priority structure along with its
Attaoui, Sami, Poncet, Patrice
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Bank Shocks and the Debt Structure

SSRN Electronic Journal, 2021
Abstract This article studies how sudden changes in bank credit supply impact economic activity. I identify shocks to bank credit supply based on firms’ aggregate debt composition. I use a model where firms fund production with bonds and loans. In the model, bank shocks are the only type of shock that imply opposite movements in the two types of ...
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The Maturity Structure of Corporate Debt

The Journal of Finance, 1995
ABSTRACTWe provide an empirical examination of the determinants of corporate debt maturity. Our evidence offers strong support for the contracting‐cost hypothesis. Firms that have few growth options, are large, or are regulated have more long‐term debt in their capital structure.
Barclay, Michael J, Smith, Clifford W, Jr   +1 more
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On the Relevance of Debt Maturity Structure

The Journal of Finance, 1985
ABSTRACTIn this paper, we present a tax‐induced framework to analyze debt maturity problems. We show that under some modifications of the existing U.S. tax code, debt maturity is irrelevant even in the presence of taxes and bankruptcy costs that yield an optimal capital structure.
Brick, Ivan E, Ravid, S Abraham
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Debt as Choice, Debt as Structure

2011
This epilogue argues that the dependence on credit was the creation, intentional and unintentional, of the sometimes unlikely choices of government, business, and consumers. Over the first half of the twentieth century, government and business fashioned a new legal network of credit institutions and offered most American consumers a choice of whether ...
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Debt, structural adjustment and health

2011
Introduction The debt narrative is encapsulated in the conundrum of why post-apartheid South Africa chose to cripple itself with debts that it could so easily have repudiated. Nelson Mandela described the apartheid debt as “the greatest single obstacle to progress in this country.” He explained further We are limited in South Africa because our ...
Jeff Rudin, David Sanders
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Debt Crisis, Structural Reforms and Debt Relief

2020
Using the civilian government of President Olusegun Obasanjo as the point of departure, this chapter explains the Nigerian debt crisis. In a thematic manner, this chapter presents Nigeria’s economic profile, accounts for its debt crisis and the predisposing factors, links the eventual debt relief to structural reforms, and recommends clear policy ...
Roseline Oshewolo, Segun Oshewolo
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CEO Inside Debt and Firm's Maturity Structure of Debt

SSRN Electronic Journal, 2016
This study examines managerial compensation incentives and its impact on firm’s financial decisions. Specifically, we examine how CEO’s inside-debt based compensation incentives (pension benefits and other deferred compensation) influences firm’s debt maturity structure.
Safi Khan, Jason Smith, Attaullah Shah
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Structuralism's Unpaid Epistemological Debts

Philosophia Mathematica, 1996
Abstract One kind of structuralism holds that mathematics is about structures, conceived as a type of abstract entity. Another denies that it is about any distinctively mathematical entities at all—even abstract structures; rather it gives purely general information about what holds of any collection of entities conforming to the axioms ...
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Optimal Capital and Debt Structures with Loss-Absorbing Debts

SSRN Electronic Journal, 2013
We analyze a defaultable firm's optimal capital and debt structures when its debt includes senior straight bonds and either Contingent Convertible or Write-Down bonds. The firm's stakeholders bear a liquidity risk prior to the debt maturity and a solvency risk at maturity.
Sami Attaoui, Patrice Poncet
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