Credit market frictions and capital structure dynamics

DOI10.1016/j.jet.2014.09.021zbMath1330.91181OpenAlexW3121884230MaRDI QIDQ894071

Semyon Malamud, Julien Hugonnier, Erwan Morellec

Publication date: 23 November 2015

Published in: Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.jet.2014.09.021

zbMATH Keywords

default riskdynamic capital structurecredit supply uncertaintysearch and bargaining

Mathematics Subject Classification ID

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

Related Items (8)

Liquidity management with decreasing returns to scale and secured credit line ⋮ Credit market frictions and capital structure dynamics ⋮ Numerical Approximation of a Cash-Constrained Firm Value with Investment Opportunities ⋮ The interaction of debt financing, cash grants and the optimal investment policy under uncertainty ⋮ Optimal Dividend Strategy for a General Diffusion Process with Time-Inconsistent Preferences and Ruin Penalty ⋮ The effects of asset liquidity on dynamic sell-out and bankruptcy decisions ⋮ On a dividend problem with random funding ⋮ Target-initiated takeover with search frictions

Cites Work

• Credit market frictions and capital structure dynamics
• Optimal capital structure and endogenous default
• Capital Mobility and Asset Pricing
• Maintaining a Reputation when Strategies are Imperfectly Observed
• Term Structures of Credit Spreads with Incomplete Accounting Information
• Endogenous Liquidity and Defaultable Bonds
• Over-the-Counter Markets
• RETHINKING DYNAMIC CAPITAL STRUCTURE MODELS WITH ROLL‐OVER DEBT
• Investment Reversibility and Agency Cost of Debt
• Markov perfect equilibrium. I: Observable actions

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