Dynamic Investment, Capital Structure, and Debt Overhang
نویسندگان
چکیده
منابع مشابه
Dynamic Investment, Capital Structure, and Debt Overhang
We model dynamic investment, financing and default decisions of a firm, which begins its life with a collection of growth options. The firm exercises them optimally over time, and finances the costs of investment by adjusting its capital structure, which trades off the tax benefits with the distress cost of debt and the agency cost of investment distortions from potential debt overhang. Conflic...
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ژورنال
عنوان ژورنال: Review of Corporate Finance Studies
سال: 2014
ISSN: 2046-9128,2046-9136
DOI: 10.1093/rcfs/cfu013