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We test the implications of Flannery’s (1986) and Diamond’s (1991) models concerning the effects of risk and asymmetric information in determining debt maturity, and we examine the overall importance of informational asymmetries in debt maturity choices. We employ data from more than 6,000...
Persistent link: https://www.econbiz.de/10010397600
costs are found to be correlated, Seemingly Unrelated Regression Estimation (SURE) is used to filter out the systematic …
Persistent link: https://www.econbiz.de/10010315486
estimation (SURE) method is applied for filtering out the systematic component of the covariance matrix of the cost changes …
Persistent link: https://www.econbiz.de/10010315522