The Leland–Toft optimal capital structure model under Poisson observations
نویسندگان
چکیده
منابع مشابه
A Model of Optimal Capital Structure with Stochastic Interest Rates
Matt Spiegel for their comments and suggestions. Abstract This paper develops a model of optimal capital structure with stochastic interest rate which is assumed to follow a mean-reverting process. Closed-form solutions are obtained for both the value of the firm and the value of its risky debt. The paper finds that the current level and the long-run mean of the interest rate process play disti...
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ژورنال
عنوان ژورنال: Finance and Stochastics
سال: 2020
ISSN: 0949-2984,1432-1122
DOI: 10.1007/s00780-020-00431-6