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Real options, agency conflicts, and optimal capital structure
16 references·16 citing·36 second hopsampled
Real options, agency conflicts, and optimal capital structure (2004)Real options, agency conflicts, and optim…A Dynamic Model of Optimal Capital Structure (2007)A Dynamic Model of Optimal Ca…Banks as Liquidity Providers: An Explanation for the Coexistence of Lending and Deposit‐taking (2002)Banks as Liquidity Providers:…The Determinants of Credit Spread Changes (2001)The Determinants of Credit Sp…Do Credit Spreads Reflect Stationary Leverage Ratios? (2001)Do Credit Spreads Reflect Sta…Measuring investment distortions arising from stockholder–bondholder conflicts (1999)Measuring investment distorti…Agency Costs, Risk Management, and Capital Structure (1998)Agency Costs, Risk Management…How Costly is Financial (Not Economic) Distress? Evidence from Highly Leveraged Transactions that Became Distressed (1997)How Costly is Financial (Not …Corporate Finance, Theory and Practice. (1997)Corporate Finance, Theory and…Optimal Capital Structure, Endogenous Bankruptcy, and the Term Structure of Credit Spreads (1996)Optimal Capital Structure, En…Investment Under Uncertainty. (1994)Investment Under Uncertainty.Investment under Uncertainty (1994)Investment under UncertaintyA comparison of financial recontracting in distressed exchanges and chapter 11 reorganizations (1994)A comparison of financial rec…Top-Management Compensation and Capital Structure (1993)Top-Management Compensation a…A RATIONALE FOR DEBT MATURITY STRUCTURE AND CALL PROVISIONS IN THE AGENCY THEORETIC FRAMEWORK (1980)A RATIONALE FOR DEBT MATURITY…Determinants of corporate borrowing (1977)Determinants of corporate bor…Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Theory of the firm: Manageria…Board monitoring and capital structure dynamics: evidence from bank-based economies (2021)Board monitoring and capital …Investment and financing for SMEs with a partial guarantee and jump risk (2015)Investment and financing for …Dynamic Investment, Capital Structure, and Debt Overhang (2014)Dynamic Investment, Capital S…Investment opportunities and bankruptcy prediction (2013)Investment opportunities and …A Review of Merton’s Model of the Firm’s Capital Structure with Its Wide Applications (2013)A Review of Merton’s Model of…Product market competition and credit risk (2012)Product market competition an…The Effect of Leverage on Firm Value and How The Firm Financial Quality Influence on This Effect (2011)The Effect of Leverage on Fir…Convertible Debt and Investment Timing (2011)Convertible Debt and Investme…Underinvestment, capital structure and strategic debt restructuring (2010)Underinvestment, capital stru…Managerial Entrenchment and Capital Structure: New Evidence (2010)Managerial Entrenchment and C…Investment timing, liquidity, and agency costs of debt (2010)Investment timing, liquidity,…Government guarantees and risk sharing in public–private partnerships (2009)Government guarantees and ris…Ownership Concentration and Corporate Performance: A Causal Analysis with Japanese Panel Data (2008)Ownership Concentration and C…Debt and managerial rents in a real-options model of the firm (2008)Debt and managerial rents in …Dynamic Investment, Capital Structure, and Debt Overhang (2006)Dynamic Investment, Capital S…Corporate Governance and Financing Policy: New Evidence (2005)Corporate Governance and Fina…The Cost of Capital, Corporation Finance and the Theory of Investment (1958)Dividend Policy, Growth, and the Valuation of Shares (1961)The Capital Structure Puzzle (1984)A Survey of Corporate Governance (1997)The Pricing of Options and Corporate Liabilities (1973)The theory and practice of corporate finance: evidence from the field (2001)Corporate Yield Spreads: Default Risk or Liquidity? New Evidence from the Credit Default Swap Market (2004)Corporate financing and investment decisions when firms have information that investors do not have (1984)Institutional Investors and Executive Compensation (2000)Remuneration, Retention, and Reputation Incentives for Outside Directors (2004)Recent Developments in Corporate Governance: An Overview (2006)The Nature of the Firm (1937)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)Separation of Ownership and Control (1983)Law and Finance (1998)Managerial discretion and optimal financing policies (1990)Liquidation Values and Debt Capacity: A Market Equilibrium Approach (1992)Financial Distress and Corporate Performance (1994)How Big Are the Tax Benefits of Debt? (2000)Asset Fire Sales (and Purchases) in Equity Markets (2005)Bank Runs, Deposit Insurance, and Liquidity (1983)Financial Intermediation and Delegated Monitoring (1984)A Theory of Bank Capital (2000)Bank Liquidity Creation (2009)How does capital affect bank performance during financial crises? (2013)ON THE PRICING OF CORPORATE DEBT: THE RISK STRUCTURE OF INTEREST RATES* (1974)Common risk factors in the returns on stocks and bonds (1993)Prospect Theory and Asset Prices (2001)Credit Spreads and Business Cycle Fluctuations (2012)The Stochastic Behavior of Commodity Prices: Implications for Valuation and Hedging (1997)The Value Premium (2005)Policy Uncertainty and Corporate Investment (2015)Term Structures of Credit Spreads with Incomplete Accounting Information (2001)Capital Structure and Stock Returns (2004)Environmental risk management and the cost of capital (2008)Capital markets research in accounting (2001)
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References

  • 1976Theory of the firm: Managerial behavior, agency costs and ownership structure71,441 cited
  • 1977Determinants of corporate borrowing13,160 cited
  • 1994Investment Under Uncertainty.9,497 cited
  • 1994Investment under Uncertainty9,016 cited
  • 2001The Determinants of Credit Spread Changes2,253 cited
  • 1996Optimal Capital Structure, Endogenous Bankruptcy, and the Term Structure of Credit Spreads1,962 cited
  • 1998Agency Costs, Risk Management, and Capital Structure1,495 cited
  • 2002Banks as Liquidity Providers: An Explanation for the Coexistence of Lending and Deposit‐taking1,447 cited
  • 1997How Costly is Financial (Not Economic) Distress? Evidence from Highly Leveraged Transactions that Became Distressed1,255 cited
  • 1993Top-Management Compensation and Capital Structure813 cited
  • 2001Do Credit Spreads Reflect Stationary Leverage Ratios?765 cited
  • 1980A RATIONALE FOR DEBT MATURITY STRUCTURE AND CALL PROVISIONS IN THE AGENCY THEORETIC FRAMEWORK605 cited
  • 1997Corporate Finance, Theory and Practice.555 cited
  • 1994A comparison of financial recontracting in distressed exchanges and chapter 11 reorganizations461 cited
  • 2007A Dynamic Model of Optimal Capital Structure

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377 cited
  • 1999Measuring investment distortions arising from stockholder–bondholder conflicts336 cited
  • Cited by

    • 2008Ownership Concentration and Corporate Performance: A Causal Analysis with Japanese Panel Data204 cited
    • 2014Dynamic Investment, Capital Structure, and Debt Overhang162 cited
    • 2011The Effect of Leverage on Firm Value and How The Firm Financial Quality Influence on This Effect137 cited
    • 2008Debt and managerial rents in a real-options model of the firm111 cited
    • 2021Board monitoring and capital structure dynamics: evidence from bank-based economies92 cited
    • 2013A Review of Merton’s Model of the Firm’s Capital Structure with Its Wide Applications91 cited
    • 2015Investment and financing for SMEs with a partial guarantee and jump risk84 cited
    • 2005Corporate Governance and Financing Policy: New Evidence81 cited
    • 2010Underinvestment, capital structure and strategic debt restructuring76 cited
    • 2012Product market competition and credit risk70 cited
    • 2013Investment opportunities and bankruptcy prediction66 cited
    • 2010Managerial Entrenchment and Capital Structure: New Evidence65 cited
    • 2011Convertible Debt and Investment Timing64 cited
    • 2009Government guarantees and risk sharing in public–private partnerships61 cited
    • 2006Dynamic Investment, Capital Structure, and Debt Overhang59 cited
    • 2010Investment timing, liquidity, and agency costs of debt54 cited