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Debt Dynamics

Article Abstract:

A dynamic trade-off model is developed with endogenous choice of distributions, real investment, and leverage in the presence of individual taxes on corporate distributions and interest, a graduated corporate income tax, equity flotation costs, and financial distress costs. Findings for leverage are discussed.

Author: Whited, Toni M., Hennessy, Christopher A.
Publisher: Blackwell Publishers Ltd.
Publication Name: Journal of Finance
Subject: Business
ISSN: 0022-1082
Year: 2005
Usage, Economic aspects, Measurement, Comparative analysis, Debt financing (Corporations), Leverage (Finance), Leverage, Econometric models, Corporate debt

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Tobin's Q, debt overhang, and investment

Article Abstract:

The effect of debt overhang, a situation where the debt stock of a country exceeds the country's future capacity to repay it, on the investments and long-lived assets is presented.

Author: Hennessy, Christopher A.
Publisher: Blackwell Publishers Ltd.
Publication Name: Journal of Finance
Subject: Business
ISSN: 0022-1082
Year: 2004
Public Finance Activities, National Government Liabilities & Debt, Asset & Risk Management, Asset Accounting, National debt, Public debts, Assets (Accounting)

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Presidential address, committing to commit: short-term debt when enforcement is costly

Article Abstract:

Lenders have to enforce debt contract when dept is short-term. The relationship of enforcement cost with number of lenders and incentive benefit is explained.

Author: Diamond, Douglas W.
Publisher: Blackwell Publishers Ltd.
Publication Name: Journal of Finance
Subject: Business
ISSN: 0022-1082
Year: 2004
Externalities (Economics), Lender liability

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Subjects list: Methods, United States, Analysis, Debt management
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