The private capital markets are the venue where debt and private equity investments are made, and private business interests are exchanged. Valuation is the common language uniting them, enabling participants in private capital markets to communicate and exchange interests. Written for CEOs,...

A recent dramatic rise in the assets managed by passive corporate debt funds has profound implications for firm financing and payout policy. I use fund-specific flows to isolate exogenous increases in firm-level passive debt ownership at a firm. Firms respond to higher levels of passive debt...

We investigate the repercussions of credit market mistakes for a firm's borrowing and investment decisions. When credit ratings are relatively optimistic, we find evidence that firms take advantage of inaccuracies by issuing more debt, increasing leverage, rolling over more debt and lengthening...

The objective of this research is to study the relationship between corporate debt financing and earnings quality and also to find the dominance of positive influence of debt or negative influence of debt on earnings quality. The research data were collected from 81 firms listed in Tehran Stock...