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He, Zhiguo; Milbradt, Konstantin - 2016

Persistent link: https://www.econbiz.de/10011434775

He, Zhiguo - 2016

A firm chooses its debt maturity structure and default timing dynamically, both without commitment. Via the fraction of … newly issued short-term bonds, equity holders control the maturity structure, which affects their endogenous default …

Persistent link: https://www.econbiz.de/10013000527

Dynamic Debt Maturity

He, Zhiguo - 2015

We study a dynamic setting in which a firm chooses its debt maturity structure and default timing endogenously, both …-values constant, but controls its debt maturity structure via the fraction of newly issued short-term bonds when refinancing its …

Persistent link: https://www.econbiz.de/10013017744

Dynamic debt maturity

He, Zhiguo; Milbradt, Konstantin - In: The review of financial studies 29 (2016) 10, pp. 2677-2736

Persistent link: https://www.econbiz.de/10011611044

Releveraging/Deleveraging Dynamics : Debt Maturity and Operational Leverage

Ibañez, Alfredo - 2023

We study a rich dynamic-leverage model that includes (debt-issuance covenants, a debt floor/ceiling, and specially) a fixed cost. When firms face financial but also operational leverage---the fixed cost, the firm's financial policies strongly interact---bringing forward the default time but...

Persistent link: https://www.econbiz.de/10014350309