Similar Search Results

Disagreement and flexibility : a theory of optimal security issuance and capital structure

Boot, Arnoud W. A.; Thakor, Anjan V. - 2002

In this paper we introduce flexibility as an economic concept and apply it to the firm’ssecurity issuance decision and capital structure choice. Flexibility is the ability to makedecisions that one thinks are best even when others disagree. The firm’s management valuesflexibility because it...

Persistent link: https://www.econbiz.de/10011332820

Ordering the preference hierarchies for internal finance, bank loans, bond and share issues

Haan, Leo de; Hinloopen, Jeroen - 2002

We estimate the incremental financing decision for a sample of some 150Dutch companies for the years 1984 through 1997, thereby distinguishinginternal finance and three types of external finance: bank borrowing, bondissues and share issues. First, we estimate a multinomial logit model...

Persistent link: https://www.econbiz.de/10011327550

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

Debt overhang and the macroeconmics of carry trade

Wijnbergen, Sweder van; Jakucionyte, Egle - 2016

emerging Europe motivates our analysis of currency mismatch losses in different sectors in the economy, and the …

Persistent link: https://www.econbiz.de/10011583537

Capital structure under financing and investment externalities

Cools, Kees; Zou, Liang - 1992

Persistent link: https://www.econbiz.de/10000122483

Corporate governance and leverage : evidence from a natural experiment

Arping, Stefan; Sautner, Zacharias - 2009

We argue that the recent corporate governance reform in the Netherlands provides a natural experiment to explore the impact of changes in corporate governance on financing policy. We find that, relative to a control sample of comparable firms outside the Netherlands, Dutch firms significantly...

Persistent link: https://www.econbiz.de/10011380020

The impact of jumps and leverage in forecasting co-volatility

Asai, Manabu; McAleer, Michael - 2015

The paper investigates the impact of jumps in forecasting co-volatility, accommodating leverage effects. We modify the … definite. Using this approach we can disentangle the estimates of the integrated co-volatility matrix and jump variations from … the co-jumps of two assets have a significant impact on future co-volatility, but that the impact is negligible for …

Persistent link: https://www.econbiz.de/10010477100

How are VIX and stock index ETF related?

Chang, Chia-Lin; Hsieh, Tai-Lin; McAleer, Michael - 2016 - Revised: February 2016

relationship between the S&P500 Composite Index and the Volatility Index (VIX), but few empirical studies have focused on the …. Daily data on ETF returns that follow different stock indexes in the USA and Europe are used in the empirical analysis. The …

Persistent link: https://www.econbiz.de/10011441620

The economic value of flexibility when there is disagreement

Boot, Arnoud W. A.; Thakor, Anjan V. - 2002

We develop an economic theory of “flexibility”, which we interpret as the discretion orability to make a decision that others disagree with. We show that flexibility is essentiallyan option for the decisionmaker, and can be valued as such. The value of the flexibilityoption is decreasing in...

Persistent link: https://www.econbiz.de/10011332819

Liability sharing as a mechanism to improve firms' investment and liquidation decisions

Zou, Liang; Sun, Laixiang - 2000

Persistent link: https://www.econbiz.de/10011453258

1
2
3
4
5
6
7
8
9
10
Next
Last