Similar Search Results

Michaux, Michael - 2010

My dissertation aims at understanding the financing and investment decisions of firms. It contains two chapters.Chapter One studies the currency composition of debt for firms in emerging economies. Using a dataset of traded Mexican firms, I document two stylized facts about firms in the...

Persistent link: https://www.econbiz.de/10009439046

How capital structure adjusts dynamically during financial crises

Ariff, Mohamed; Taufiq, Hassan; Shamsher, Mohamad - 2008

The availability of a unique data set of financially distressed firms enabled this study to apply the dynamic capital structure adjustment model to a study of capital structure. In addition, the factors driving capital structure adjustment of financially distressed and of healthy firms were...

Persistent link: https://www.econbiz.de/10009441702

Testing Theories of Capital Structure and Estimating the Speed of Adjustment

Huang, Rongbing; Ritter, Jay R - 2009

This paper examines time-series patterns of external financing decisions and shows that publicly traded U.S, firms fund a much larger proportion of their financing deficit with external equity when the cost of equity capital is low. The historical values of the cost of equity capital have...

Persistent link: https://www.econbiz.de/10009458996

Does the IMF's official support affect sovereign bond maturities?

Erce Domínguez, Aitor - 2012

endogenous liquidity crises and maturity mismatches due to fi nancial underdevelopment. I use the model to analyse the impact of … IMF lending during debt crises on the sovereign’s optimal maturity structure. Within the model, although IMF assistance is … varios vencimientos en el que existen crisis de liquidez endógenas y desbalances de vencimientos (maturity mismatches …

Persistent link: https://www.econbiz.de/10012530397

Financial Leverage and the Leverage Effect - A Market and Firm Analysis

Aydemir, A. Cevdet; Gallmeyer, Michael; Hollifield, Burton - 2007

We quantify the effect of financial leverage on stock return volatility in a dynamic general equilibrium economy with debt and equity claims. The effect of financial leverage is studied both at a market and a firm level where the firm is exposed to both idiosyncratic and market risk. In a...

Persistent link: https://www.econbiz.de/10009441057

Responsible Sovereign Lending and Borrowing

Gulati, Mitu; Buchheit, Lee C. - 2010

There are three reasons for attempting to reach a common understanding of the responsibilities of sovereign borrowers and their lenders. First, the flow of capital to sovereign debtors is exceptionally important to the world economy. Industrialized countries rely on it to finance their budget...

Persistent link: https://www.econbiz.de/10009471550

Cash-Flow Risks, Financial Leverage and the Cross Section of Equity Returns

Maia, Marcelo V - 2010

What is the cross-sectional relationship between financial leverage and expected equity returns? How is the empirical relationship associated with firm's financial decisions? This dissertation investigates the potential explanations for the flatness relation between financial leverage and...

Persistent link: https://www.econbiz.de/10009439047

The Levered Equity Risk Premium and Credit Spreads: A Unified Framework

Bhamra, Harjoat S.; Kuehn, Lars-Alexander; Strebulaev, … - 2009

We embed a structural model of credit risk inside a dynamic continuous-time consumption-based asset pricing model, which allows us to price equity and corporate debt in a unified framework. Our key economic assumptions are that the first and second moments of earnings and consumption growth...

Persistent link: https://www.econbiz.de/10009441109

Three essays on earnings management, financial irregularities, and capital structure

Pungaliya, Raunaq Sushil - 2010

contract maturity. Credit ratings also reflect the effect of target leverage, which suggests that the credit rating agencies …

Persistent link: https://www.econbiz.de/10009466088

Overconfident Managers and Capital Structure in the Hospitality Firms

Seo, Kwanglim; Amit, Sharma - 2011

This study examines capital structure of hospitality firms from a behavioral perspective based on the hubris theory that emphasizes the effect of managerial overconfidence on corporate decisions. Specifically, we investigate the relationship between manager overconfidence and financing...

Persistent link: https://www.econbiz.de/10009468142

1
2
3
4
5
6
7
8
9
10
Next
Last