Haag, Valentin Georg; Koziol, Christian - In: Schmalenbach journal of business research : SBUR 75 (2023) 1, pp. 37-69
. In particular, we can numerically support the usual simplification in the absence of default risk. In case that firms are … default-risky, however, empirical findings indicate a clear difference between these costs equal to 1.88 percentage points on … company cost of capital does practically not depend on the debt ratio if the firm is not subject to default risk or if …
