Debt, and in particular, short-term debt have the potential to discipline managers. We examine the role of the board in … stronger boards will force the firm to hold more debt and more short-term debt. Employing a rich dataset of board …

In this paper we build a theoretical model of a firm repurchasing its corporate debt. We find that firm creditors as a … group sell debt to the firm only at face value. However, because of the cross-creditor externalities buying back debt is … cheaper and easier when there are many creditors, e.g., when debt is traded on the open market. We further show that …

Both student loans and household debt are at their peaks. This paper investigates how student loans causally impact … debt holdings of individuals in the medium-run using data from the National Longitudinal Survey of Youth 1997. To identify … the causal effect of student loans on future debt holdings, I instrument the amount of student loan debt with eligibility …

apologized and acknowledged a “moral debt” that it owes the Haitian people. But is there a legal debt that Haiti, one of the …