Optimal capital structure, ambiguity aversion, and leverage puzzles

DOI10.1016/J.JEDC.2021.104176zbMath1475.91393OpenAlexW3175764104MaRDI QIDQ2246631

Hening Liu, Wenbin Cao, Xiaoman Duan, Sami Attaoui

Publication date: 16 November 2021

Published in: Journal of Economic Dynamics \& Control (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.jedc.2021.104176

zbMATH Keywords

ambiguity aversionmarket segmentationcapital structuretrade-off theorydebt conservatism

Mathematics Subject Classification ID

Decision theory (91B06) Corporate finance (dividends, real options, etc.) (91G50)

Related Items (3)

Cash holdings, ambiguity aversion, and investment puzzles ⋮ Robust leverage dynamics without commitment ⋮ Robust investment strategies with two risky assets

Cites Work

• Risk, uncertainty, and option exercise
• Dynamic portfolio choice under ambiguity and regime switching mean returns
• Aggregation of heterogeneous beliefs
• Recursive smooth ambiguity preferences
• Maxmin expected utility with non-unique prior
• Ambiguity in asset pricing and portfolio choice: a review of the literature
• Optimal stopping under ambiguity in continuous time
• Backward Stochastic Differential Equations in Finance
• Learning Under Ambiguity
• A Dynamic Model of Optimal Capital Structure
• Ambiguity, Risk, and Asset Returns in Continuous Time
• Stochastic differential equations. An introduction with applications.

This page was built for publication: Optimal capital structure, ambiguity aversion, and leverage puzzles