Are the Distinctions Between Debt and Equity Disappearing?: Proceedings of a Conference Held at Melvin Village, New Hampshire, October 1989
Richard W. Kopcke, Eric S. Rosengren
Federal Reserve Bank of Boston, 1989 - Business enterprises - 225 pages
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Are the Distinctions between Debt and Equity
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allocation American Law Institute asset restrictions Auerbach bankruptcy behavior bonds borrowing capital gains capital requirements capital structure cash ﬂow cash-ﬂow tax claims contracts corporate debt corporate equity Corporate Finance corporate tax corporate wealth corporation’s creditors debt and equity debt financing deduction default defined benefit deposit insurance distributions dividend relief earnings effect employees entrepreneur equilibrium equity financing example existing equity Federal Reserve Bank Financial Economics financial innovation financial intermediaries firm’s fixed-income fraudulent conveyance high-yield debt holders incentive increase inﬂation inﬂuence Institute interest rate investment investors Journal of Financial junk bond leveraged buyout liabilities liquidation loan Myers nonfinancial corporations optimal capital structure options organizational theory paper payoffs pecking order theory pension funds pension plans percent portfolio problem profits ratio recent regulations retirement risk savers share repurchase shareholders stockholders takeovers taxation tion trade-off theory transaction voting zero coupon bonds