Lin, Yi-Mien; Chen, Shieh-Liang; Chao, Chin-Fang - In: International Journal of Economics and Accounting 6 (2015) 1, pp. 81-104
-term bank loans or bonds when the managers own higher holdings of stock options, but the financing policy of long-term debts is … debt-holders to shareholders, we find that the long-term debts are negatively related to the change in initial default risk …