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Disagreement and flexibility : a theory of optimal security issuance and capital structure
Boot, Arnoud W. A.; Thakor, Anjan V. - 2002
ofthis theory of capital structure evolution is that optimal capital structure is essentiallydynamic, and depends on the firm …’s stock price, implying that firms issue equity when stockprices are high and debt when stock prices are low. The theory … testablepredictions. Moreover, the theory can rationalize the use of debt in the absence of taxes,agency costs or signaling considerations. …
Persistent link: https://www.econbiz.de/10011332820
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Limiting limited liability
Dari-Mattiacci, Guiseppe - 2006
Limited liability may result in inefficient accident prevention, because a relevant portion of the expected harm is externalized on victims. This paper shows that under some restrictive conditions further limiting liability by means of a liability cap can improve caretaking.
Persistent link: https://www.econbiz.de/10011349185
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The many faces of information disclosure
Boot, Arnoud W. A.; Thakor, Anjan V. - 1998 - Rev
Persistent link: https://www.econbiz.de/10000986121
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Economic valuation of liquidity timing
Karstanje, Dennis; Sojli, Elvira; Tham, Wing Wah; Wel, … - 2013
Persistent link: https://www.econbiz.de/10010191204
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A firm's first year
Abbring, Jaap H.; Campbell, Jeffrey R. - 2005
Persistent link: https://www.econbiz.de/10002851675
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Evolution of organizational scale and scope: Does it ever pay to get bigger and less focused?
Boot, Arnoud W. A.; Milbourn, Todd; Thakor, Anjan V. - 2002
Persistent link: https://www.econbiz.de/10001689260
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Capital structure under financing and investment externalities
Cools, Kees; Zou, Liang - 1992
Persistent link: https://www.econbiz.de/10000122483
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The (self-)funding of intangibles
Döttling, Robin; Ladika, Tomislav; Perotti, Enrico C. - 2016
In response to technological change, U.S. corporations have been investing more in intangible capital. This transformation is empirically associated with lower leverage and greater cash holdings, and commonly explained as a precautionary response to reduced debt capacity. We model how firms'...
Persistent link: https://www.econbiz.de/10011556238
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Capital structure arbitrage revisited
Wojtowicz, Marcin - 2014
We study risk and return properties of capital structure arbitrage strategies aiming to profit from temporal mispricing between equity and credit default swaps (CDSs) of companies. We find that capital structure arbitrage provides an attractive annualized return of 24.35% on invested capital....
Persistent link: https://www.econbiz.de/10010415520
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Disagreement and flexibility : a theory of optimal security issuance and capital structure
Boot, Arnoud W. A.; Thakor, Anjan V. - 2003
Persistent link: https://www.econbiz.de/10001726793