Showing 1 - 6 of 6
Persistent link: https://www.econbiz.de/10001972729
This paper investigates the link between the optimal level of non-financial firms' leverage and macroeconomic uncertainty. We develop a structural model of a firm's value maximization problem that predicts that as macroeconomic uncertainty increases the firm will decrease its optimal level of...
Persistent link: https://www.econbiz.de/10002243165
Persistent link: https://www.econbiz.de/10010361544
Persistent link: https://www.econbiz.de/10002009009
Persistent link: https://www.econbiz.de/10001972760
Persistent link: https://www.econbiz.de/10003820604