Narrow search
Showing 1 - 10 of 2,386
Cover Image
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
Cover Image
Capital structure under financing and investment externalities
Cools, Kees; Zou, Liang - 1992
Persistent link: https://www.econbiz.de/10000122483
Cover Image
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
Cover Image
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
Cover Image
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
Cover Image
Capital structure and product market behavior : an examination of plant exit and investment decisions
Kovenock, Daniel J. - 1995
Persistent link: https://www.econbiz.de/10000904889
Cover Image
The political economy of corporate control
Perotti, Enrico C.; Thadden, Ernst-Ludwig von - 2005
In a democracy, a political majority can influence both the corporategovernance structure and the return to human and financial capital.We argue that when financial wealth is sufficiently diffused, thereis political support for a strong governance role for dispersed equitymarket investors, and...
Persistent link: https://www.econbiz.de/10011346462
Cover Image
The political economy of corporate control
Perotti, Enrico C.; Thadden, Ernst-Ludwig von - 2005
Persistent link: https://www.econbiz.de/10003204007
Cover Image
Blockholder dispersion and firm value
Konijn, Sander J. J.; Kräussl, Roman; Lucas, André - 2009
This paper analyzes the impact of blockownership dispersion on firm value. Blockholdings by multiple blockholders is a widespread phenomenon in the U.S. market. It is not clear, however, whether dispersion among blockholder is preferable to having a more concentrated ownership structure. To test...
Persistent link: https://www.econbiz.de/10011379511
Cover Image
Go public or stay private : a theory of entrepreneurial choice
Boot, Arnoud W. A.; Gopalan, Radhakrishnan; Thakor, Anjan V. - 2003
In this paper we analyze an entrepreneur /manager's choice between private and public ownership in a setting in which management needs some elbow room or autonomy to optimally manage the firm. In public capital markets, the corporate governance regime in place exposes the firm to exogenous...
Persistent link: https://www.econbiz.de/10011334339