The non-neutrality of debt in investment timing: a new NPV rule

DOI10.1007/S10436-005-0016-9zbMath1233.91301OpenAlexW2129373249MaRDI QIDQ665553

Tarun Sabarwal

Publication date: 5 March 2012

Published in: Annals of Finance (Search for Journal in Brave)

Full work available at URL: http://hdl.handle.net/1808/8861

zbMATH Keywords

defaultdebtinvestmentlimited liabilityNPVoption value

Mathematics Subject Classification ID

Corporate finance (dividends, real options, etc.) (91G50) Credit risk (91G40)

Related Items (4)

The timing of debt renegotiation and its implications for irreversible investment and capital structure ⋮ Irreversible investment and discounting: an arbitrage pricing approach ⋮ On the neutrality of debt in investment intensity ⋮ The impact of voluntary disclosure on a firm's investment policy

Cites Work

• Optimal contracts and competitive markets with costly state verification
• Optimal Contracts when Enforcement is a Decision Variable

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