This article examines the determinants of the mix of private and public debt using detailed information on the debt structure of 250 publicly traded corporations from 1980 through 1990. The authors find that the relationship between bank borrowing and the importance of growth opportunities...

This article examines the relation between bank debt forgiveness and the structure of public debt exchange offers in financial distress. The author finds that the structure of exchange offers and the likelihood of an offer's success are significantly related to whether the bank participates in...

This paper investigates the effect of setup costs on the pricing of investment banking services. The existence of setup costs is predicted to result in lower underwriter spreads in initial public offerings for firms that are expected to issue again. Consistent with this prediction, the author...

This paper examines the losses realized in bank failures. Losses are measured as the difference between the book value of assets and the recovery value net of the direct expenses associated with the failure. The author finds the loss on assets is substantial, averaging 30 percent of the failed...