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Systematic risk and yield premiums in the bond market

Fu, Liang; Murphy, Austin; Benzschawei, Terry - In: The journal of credit risk : published quarterly by … 11 (2015) 2, pp. 1-40

Persistent link: https://www.econbiz.de/10011298058

Sovereign bond spreads and credit sensitivity

Schefer, Ricardo - 2020

Expectations of risky bond payments are unobservable and recovery rates for sovereigns are hard to estimate because …

Persistent link: https://www.econbiz.de/10012307696

A general free cash flow theory of capital structure

Buus, Tomáš - In: Journal of business economics and management 16 (2015) 3, pp. 675-695

Persistent link: https://www.econbiz.de/10011516535

Creditor rights and debt allocation within multinationals

Akbel, Basak; Schnitzer, Monika - 2009

We analyze the optimal debt structure of multinational corporations choosing between centralized or decentralized borrowing. We identify how this choice is affected by creditor rights and bankruptcy costs, taking into account managerial incentives and coinsurance considerations. We find that...

Persistent link: https://www.econbiz.de/10003935683

Empirical evaluation of interest barrier effects

Dreßler, Daniel; Scheuering, Uwe - 2015 - This version: July 2015

This paper empirically estimates the effects of a new thin-capitalization rule on the financing behavior of German corporations employing a fixed effects difference-in-difference approach. We compare treatment and control groups separated by a hypothetical application of the new rule in three...

Persistent link: https://www.econbiz.de/10011393141

Leasing decisions and credit constraints : empirical analysis on a sample of Italian firms

Cosci, Stefania; Guida, Roberto; Meliciani, Valentina - In: European financial management : the journal of the … 21 (2015) 2, pp. 377-398

Persistent link: https://www.econbiz.de/10010516659

Accelerated depreciation, default risk and investment decisions

Panteghini, Paolo; Vergalli, Sergio - 2016

In this article we focus on a representative firm that can decide when to invest under default risk. On the one hand, this firm can benefit from generous tax depreciation allowances, on the other hand it faces a default risk. Our aim is to study the effects of tax depreciation allowances in a...

Persistent link: https://www.econbiz.de/10011416013

An empirical application of the trade-off model for companies in the Dow Jones industrial average

Gallizo Larraz, José L.; Vendrell Vilanova, Ana; … - In: Modern economy 5 (2014) 13, pp. 1229-1239

Persistent link: https://www.econbiz.de/10011285546

The structure and pricing of corporate debt covenants

Bradley, Michael H.; Roberts, Michael R. - In: The quarterly journal of finance 5 (2015) 2, pp. 1-37

Persistent link: https://www.econbiz.de/10011300192

Disagreement and flexibility : a theory of optimal security issuance and capital structure

Boot, Arnoud W. A.; Thakor, Anjan V. - 2002

ofthis theory of capital structure evolution is that optimal capital structure is essentiallydynamic, and depends on the firm …’s stock price, implying that firms issue equity when stockprices are high and debt when stock prices are low. The theory … testablepredictions. Moreover, the theory can rationalize the use of debt in the absence of taxes,agency costs or signaling considerations. …

Persistent link: https://www.econbiz.de/10011332820