Showing 1 - 10 of 12,830
Persistent link: https://www.econbiz.de/10001641442
How do banks choose their debt maturity structure when credit markets are subject to information frictions? This paper … proposes a model of equilibrium maturity choice with asymmetric information and endogenous roll-over risk. We show that in the … social benefits, the equilibrium maturity structure always exhibits inefficient short-termism. If banks receiving a credit …
Persistent link: https://www.econbiz.de/10010248172
Persistent link: https://www.econbiz.de/10001479128
Persistent link: https://www.econbiz.de/10001884242
Persistent link: https://www.econbiz.de/10001472748
Persistent link: https://www.econbiz.de/10001563810
This paper analyzes the interaction between financial leverage and takeover activity. We develop a dynamic model of takeovers in which the financing strategies of bidding firms and the timing and terms of takeovers are jointly determined. In the paper, capital structure plays the role of a...
Persistent link: https://www.econbiz.de/10003394282
We analyze the real option signaling game models of debt financing of a risky project under information asymmetry, where the firm quality is only known to the firm management but not outsiders. The firm decides on the optimal investment timing of the risky project that requires upfront fixed...
Persistent link: https://www.econbiz.de/10012848015
Persistent link: https://www.econbiz.de/10003327277
Persistent link: https://www.econbiz.de/10003276014