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Options Trading and Corporate Debt Structure
SSRN Electronic Journal, 2020Options trading activity can affect firm debt structure decisions by stimulating informed trading that improves the informational environment in which firms raise debt capital. We find supporting evidence, at both the extensive and intensive margin, that firms with actively traded options are able to shift from bank to public debt financing. We provide
Jie (Jay) Cao +3 more
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Inside Debts or Outside Debts: Do Senior Executives Influence the Structure of Debts
SSRN Electronic Journal, 2020The purpose of this study is to analyze the structure of debts in different aged group, as well as executive pension arrangements. For whom aged under 50 categorizes as the junior executive group, while for whom aged above 50 categorizes as the senior executive group. The dataset is selected from Wharton Research Data Services with annual base.
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Mezzanine debt and debt structure
1994L'objectif central de la dette est de mettre en évidence l'intérêt de recourir au financement mezzanine dans le cadre d'opérations financières où il est fait appel à un financement pour dette élevé. La dette mezzanine est un mode de financement caractérisé par un couple risque : rentabilité intermédiaire entre celui de la dette classique et dont le ...
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The Structural Change of Debt-Economy in Korea : From Corporate Debt to Household Debt
OUGHTOPIA, 2018본 연구는 2000년대 이후 관찰되는 가계부채급증현상을 새로운 시각으로 해석하는 것을 목표로 한다. 가계부채증가를 다루는 대부분의 기존연구들은 이 현상을 주로 가계소비성향이나 부동산투자의 증가와 같은 가계 내부의 수요측 요인과, 저금리정책이나 은행경영전략의 변화와 같은 공급측 요인을 통해 설명한다. 하지만 본 연구는 이와 같은 수요측 요인과 공급측 요인의 변화 역시 설명되어야 할 현상의 일부라고 지적하면서, 부채라는 금융자원을 둘러싼 정부-금융-기업-가계의 관계를 통합적으로 분석할 수 있는 ‘부채경제’라는 대안적 개념을 제시한다. 부채경제란 부채에 기반하여 현재의 소득을 초과하는 수준에서 대규모 지출과 투자가 감행되고, 이러한
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Reputation in a model with a limited debt structure
Review of Economic Dynamics, 2005This paper studies the optimal management of the maturity of government debt in an economy without commitment. We consider a reputation where any deviation triggers reversion to the worst sustainable equilibrium. We obtain two results. First, contrary to earlier literature, we show that a very rich debt structure is not a necessary condition to solve ...
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Complementarity of Bank and Market Debt in Dynamic Debt Structure
I develop a dynamic model of firm debt structure with renegotiable bank debt and arm's- length market debt. Bank debt is renegotiated periodically through bilateral firm-bank bargaining, excluding market debt investors and exposing them to dilution.openaire +2 more sources
Oil price uncertainty and corporate debt maturity structure
Finance Research Letters, 2022Jin Boon Wong, Mostafa Hasan
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Credit default swaps and corporate debt structure
Journal of Corporate Finance, 2023Walid Saffar +2 more
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