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Liquidity backstops and dynamic debt runs
Wei, Bin; Yue, Vivian Z. - 2015
Liquidity backstops have important implications for financial stability. In this paper, we provide a microfoundation for the important role of liquidity backstops in mitigating runs (or, conversely, the role of the lack of liquidity backstops in exacerbating runs) based on a dynamic model of...
Persistent link: https://www.econbiz.de/10011396851
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Does managerial discretion affect debt maturity in Chilean firms? An agency cost and asymmetric information approach
Muñoz-Mendoza, Jorge Andrés; Sepúlveda-Yelpo, Sandra … - In: Ecos de economía 20 (2016) 43, pp. 65-87
Persistent link: https://www.econbiz.de/10011582738
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Debt maturity and the dynamics of leverage
Dangl, Thomas; Zechner, Josef - 2016
optimal maturity structure of corporate debt. Since firms with high costs of financial distress benefit most from committing …
Persistent link: https://www.econbiz.de/10011550392
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A collateral theory of endogenous debt maturity
Darst, R. Matthew; Refayet, Ehraz - 2017
Persistent link: https://www.econbiz.de/10011709339
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Credit ratings and liquidity risk for the optimization of debt maturity structure
Sajjad, Faiza; Zakaria, Muhammad - In: Journal of risk and financial management : JRFM 11 (2018) 2, pp. 1-16
The purpose of this study is to examine the relationship between credit rating scales and debt maturity choices. A … debt maturity. Companies with medium ratings have longer debt maturity structure. Liquidity shows a negative association … with longer debt maturity structure. It is evident that at high rating scale with high liquidity, and at lower rating …
Persistent link: https://www.econbiz.de/10011856975
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Endogenous debt maturity : liquidity risk vs. default risk
Manuelli, Rodolfo E.; Sanchez, Juan M. - 2018
Persistent link: https://www.econbiz.de/10011950510
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Debt maturity and the liquidity of secondary debt markets
Bruche, Max; Segura, Anatoli - 2016
Persistent link: https://www.econbiz.de/10011941207
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Sovereign debt maturity structure under asymmetric information
Perez, Diego J. - 2013
Persistent link: https://www.econbiz.de/10009789001
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On the modeling of debt maturity and endogenous default : a caveat
Décamps, Jean-Paul (contributor);  … - 2008
Persistent link: https://www.econbiz.de/10003749816
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Releveraging/Deleveraging Dynamics : Debt Maturity and Operational Leverage
Ibañez, Alfredo - 2023
We study a rich dynamic-leverage model that includes (debt-issuance covenants, a debt floor/ceiling, and specially) a fixed cost. When firms face financial but also operational leverage---the fixed cost, the firm's financial policies strongly interact---bringing forward the default time but...
Persistent link: https://www.econbiz.de/10014350309