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Are Firms Underleveraged? An Examination of the Effect of Leverage on Default Probabilities
16 references·16 citing·27 second hopsampled
Are Firms Underleveraged? An Examination of the Effect of Leverage on Default Probabilities (2005)Are Firms Underleveraged? An Examination …Market Timing and Capital Structure (2002)Market Timing and Capital Str…The theory and practice of corporate finance: evidence from the field (2001)The theory and practice of co…Understanding the determinants of managerial ownership and the link between ownership and performance (1999)Understanding the determinant…Industry costs of equity (1997)Industry costs of equityDo Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints? (1997)Do Investment-Cash Flow Sensi…Corporate Debt Value, Bond Covenants, and Optimal Capital Structure (1994)Corporate Debt Value, Bond Co…The Theory of Capital Structure (1991)The Theory of Capital Structu…The Determinants of Capital Structure Choice (1988)The Determinants of Capital S…The Capital Structure Puzzle (1984)The Capital Structure PuzzleThe Capital Structure Puzzle (1984)The Capital Structure PuzzleCorporate financing and investment decisions when firms have information that investors do not have (1984)Corporate financing and inves…Determinants of corporate borrowing (1977)Determinants of corporate bor…DEBT AND TAXES* (1977)DEBT AND TAXES*Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Theory of the firm: Manageria…FINANCIAL RATIOS, DISCRIMINANT ANALYSIS AND THE PREDICTION OF CORPORATE BANKRUPTCY (1968)FINANCIAL RATIOS, DISCRIMINAN…CORPORATE INCOME TAXES AND THE COST OF CAPITAL: A CORRECTION (1963)CORPORATE INCOME TAXES AND TH…Credit Ratings and Credit Risk: Is One Measure Enough? (2016)Credit Ratings and Credit Ris…The expected cost of default (2015)The expected cost of defaultHuman capital, capital structure, and employee pay: An empirical analysis (2013)Human capital, capital struct…Firms' use of accounting discretion to influence their credit ratings (2013)Firms' use of accounting disc…Tax avoidance, cost of debt and shareholder activism: Evidence from Korea (2010)Tax avoidance, cost of debt a…Have the tax benefits of debt been overestimated? (2010)Have the tax benefits of debt…A Review of Empirical Capital Structure Research and Directions for the Future (2010)A Review of Empirical Capital…Trade Receivables Policy of Distressed Firms and Its Effect on the Costs of Financial Distress (2009)Trade Receivables Policy of D…Ownership and capital structure in Latin America (2009)Ownership and capital structu…Market conditions, default risk and credit spreads (2009)Market conditions, default ri…Information asymmetry and firms’ credit market access: Evidence from Moody's credit rating format refinement (2009)Information asymmetry and fir…How Do Pensions Affect Corporate Capital Structure Decisions? (2009)How Do Pensions Affect Corpor…Employee well-being, firm leverage, and bankruptcy risk (2009)Employee well-being, firm lev…Liquidity and Credit Default Swap Spreads (2008)Liquidity and Credit Default …Twenty‐five years of the Taffler z‐score model: Does it really have predictive ability? (2007)Twenty‐five years of the Taff…In Search of Distress Risk (2005)In Search of Distress RiskThe Cost of Capital, Corporation Finance and the Theory of Investment (1958)Dividend Policy, Growth, and the Valuation of Shares (1961)A Survey of Corporate Governance (1997)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Cross-Section of Expected Stock Returns (1992)Common risk factors in the returns on stocks and bonds (1993)Multifactor Explanations of Asset Pricing Anomalies (1996)Measuring Mutual Fund Performance with Characteristic‐Based Benchmarks (1997)Conditional Skewness in Asset Pricing Tests (2000)Significance tests and goodness of fit in the analysis of covariance structures. (1980)Firms, Contracts, and Financial Structure (1995)Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)The Financial Accelerator in a Quantitative Business Cycle Framework (1998)Managing with Style: The Effect of Managers on Firm Policies (2003)New Evidence on Measuring Financial Constraints: Moving Beyond the KZ Index (2010)The Market for "Lemons": Quality Uncertainty and the Market Mechanism (1970)What Do We Know about Capital Structure? Some Evidence from International Data (1995)The Nature of the Firm (1937)The Pricing of Options and Corporate Liabilities (1973)Separation of Ownership and Control (1983)Law and Finance (1998)Financial Ratios and the Probabilistic Prediction of Bankruptcy (1980)Managerial incentives and risk-taking☆ (2005)How does financial reporting quality relate to investment efficiency? (2009)Law, finance, and economic growth in China (2005)The economic implications of corporate financial reporting (2005)Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature (2001)
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References

  • 1976Theory of the firm: Managerial behavior, agency costs and ownership structure71,441 cited
  • 1984Corporate financing and investment decisions when firms have information that investors do not have18,936 cited
  • 1968FINANCIAL RATIOS, DISCRIMINANT ANALYSIS AND THE PREDICTION OF CORPORATE BANKRUPTCY14,869 cited
  • 1977Determinants of corporate borrowing13,160 cited
  • 1984The Capital Structure Puzzle7,520 cited
  • 1997Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints?6,790 cited
  • 1988The Determinants of Capital Structure Choice6,108 cited
  • 1963CORPORATE INCOME TAXES AND THE COST OF CAPITAL: A CORRECTION5,951 cited
  • 2001The theory and practice of corporate finance: evidence from the field5,947 cited
  • 1997Industry costs of equity5,793 cited
  • 1991The Theory of Capital Structure4,371 cited
  • 2002Market Timing and Capital Structure3,804 cited
  • 1984The Capital Structure Puzzle3,151 cited
  • 1977DEBT AND TAXES*2,896 cited
  • 1994Corporate Debt Value, Bond Covenants, and Optimal Capital Structure2,732 cited
  • 1999

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Understanding the determinants of managerial ownership and the link between ownership and performance
2,502 cited

Cited by

  • 2009Market conditions, default risk and credit spreads341 cited
  • 2009Information asymmetry and firms’ credit market access: Evidence from Moody's credit rating format refinement327 cited
  • 2010Have the tax benefits of debt been overestimated?281 cited
  • 2005In Search of Distress Risk273 cited
  • 2009Ownership and capital structure in Latin America267 cited
  • 2009Employee well-being, firm leverage, and bankruptcy risk267 cited
  • 2013Firms' use of accounting discretion to influence their credit ratings249 cited
  • 2013Human capital, capital structure, and employee pay: An empirical analysis238 cited
  • 2016Credit Ratings and Credit Risk: Is One Measure Enough?234 cited
  • 2010Tax avoidance, cost of debt and shareholder activism: Evidence from Korea228 cited
  • 2009Trade Receivables Policy of Distressed Firms and Its Effect on the Costs of Financial Distress224 cited
  • 2009How Do Pensions Affect Corporate Capital Structure Decisions?222 cited
  • 2007Twenty‐five years of the Taffler z‐score model: Does it really have predictive ability?221 cited
  • 2015The expected cost of default217 cited
  • 2008Liquidity and Credit Default Swap Spreads182 cited
  • 2010A Review of Empirical Capital Structure Research and Directions for the Future179 cited