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Debt MaturityA Survey CONTENTS I Introduction
n Debt Maturitya study of imperfections
THE EARLY WORK
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agency problems analysis assumed asymmetric information bad firms bank Barclay and Smith Barnea Haugen bondholders bonds Brick and Ravid capital structure cash flows coefficient comparative statics Corporate Debt correlation coupon covenants debt contracts debt issues debt maturity decision default Diamond discussed empirical equilibrium refinements Flannery Flannery's flotation costs framework Haugen and Senbet incentives income increase information asymmetry interest rate uncertainty intuitive investment investors irrelevance issue long term issue short term issuing debt Journal of Finance lenders levered firm long term debt maturity matching maturity of debt Maturity Structure measure Morris negative Optimal Capital Structure optimal maturity option paper payments pooling equilibrium proposition ratio re-financing Regression risk risky debt senior separating equilibrium shareholders short term debt signalling sinking fund Stohs and Mauer structure of interest tax rate tax shields term rates term structure Titman transaction costs unlevered firm value variables volatility Wiener process yield curve zero