Results 11 to 20 of about 7,450,602 (308)
Underinvestment, capital structure and strategic debt restructuring [PDF]
, 2010 This paper shows that shareholders' option to renegotiate debt in a period of financial distress exacerbates Myers' (1977) underinvestment problem at the time of the firm's expansion.
Pawlina, G
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Dynamic Investment, Debt Structure and Debt Overhang [PDF]
SSRN Electronic Journal, 2020 We study the impact of the optimal debt and priority structure on the intertwined corporate financing and investment decisions in a dynamic trade-off model, where the firm simultaneously uses bank and market debt for project financing. Private bank debt is renegotiable during financial distress, thus it avoids inefficient and costly bankruptcy losses ...
Gan, Liu, Xia, Xin, Zhang, Hai
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CEO Inside Debt and Corporate Debt Maturity Structure [PDF]
SSRN Electronic Journal, 2015 This paper examines the relation between chief executive officer (CEO) inside debt holdings and corporate debt maturity. We provide robust evidence that inside debt has a positive effect on short-maturity debt and that this effect is concentrated in financially unconstrained firms that face lower refinancing risk.
Dang, Viet, Phan, Hieu V.
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Dynamic capital structure with callable debt and debt renegotiations [PDF]
Journal of Corporate Finance, 2002 We consider a dynamic model of the capital structure of a firm with callable debt that takes into account that equity holders and debt holders have a common interest in restructuring the firm's capital structure in order to avoid bankruptcy costs. Far away from the bankruptcy threat the equity holders use the call feature of the debt to replace the ...
Peter Ove Christensen +3 more
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The Seniority Structure of Sovereign Debt [PDF]
SSRN Electronic Journal, 2019 Sovereign governments owe debt to many foreign creditors and can choose which creditors to favor when making payments. This paper documents the de facto seniority structure of sovereign debt using new data on defaults (missed payments or arrears) and creditor losses in debt restructuring (haircuts).
Schlegl, Matthias +2 more
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Debt shifting and ownership structure [PDF]
European Economic Review, 2012 Abstract Previous theoretical studies on the debt shifting behavior of multinationals have assumed affiliates of multinationals to be wholly owned. We develop a model that allows a multinational firm to determine both the leverage and ownership structure in affiliates endogenously. A main finding is that affiliates with minority owners have less debt
Dirk Schindler, Guttorm Schjelderup
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Core Predictors of Debt Specialization: A New Insight to Optimal Capital Structure
Mathematics, 2021 Debt structure composition is an essential topic of discussion for the management of capital structure decisions. Researchers made extensive efforts to understand the criteria for selecting debts, specifically, to know about the reasons for debt ...
Kanwal Iqbal Khan +6 more
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Debt Structure and Capital Structure: Based on Bank Debt Renegotiation [PDF]
SSRN Electronic Journal, 2010 This paper proposes a model that determines optimal capital and debt structure when a firm uses two types of debt; a bank debt and a bond. Their difference lies in whether a firm can renegotiate with a creditor or not. Renegotiation with bondholders seems to be hard because bonds are dispersively held by many bondholders.
Tomita, Shintaro +2 more
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A study of the capital structure in the construction sector of Republika Srpska [PDF]
Bankarstvo, 2020 This research included 11 companies from the construction sector, included in the stock exchange index of the construction sector, GIRS. The following dependent variable was used: short-term debt to total liabilities (STDTL).
Alihodžić Almir
doaj
The Optimum Structure For Government Debt [PDF]
SSRN Electronic Journal, 2010 This article studies the structural differences between implicit and explicit government debt in a two-generations-overlapping model with stochastic factor-prices. If a government can issue safe bonds and new claims to wage-indexed social security to service a given initial obligation, there exists a set of Pareto-efficient ways to do so.
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