This paper investigates the circumstances under which a firm will be forced into bankruptcy. The model developed can be viewed as part of a larger framework which would be necessary to address the question of optimal financial policy in a world of taxation, bankruptcy costs, investment and...

This book provides valuable information and analysis to managers, policymakers, and investment counselors in the rapidly expanding field of pension funding. American workers, too, need answers and insights on how to invest their money and plan for their retirement. fifteen of America's leading...