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Debt Overhang and the Retail Apocalypse
16 references·0 citing·49 second hop
Debt Overhang and the Retail Apocalypse (2022)Debt Overhang and the Retail ApocalypseLiquidity versus Wealth in Household Debt Obligations: Evidence from Housing Policy in the Great Recession (2020)Liquidity versus Wealth in Ho…How Valuable Is Financial Flexibility when Revenue Stops? Evidence from the COVID-19 Crisis (2020)How Valuable Is Financial Fle…Changing Business Dynamism and Productivity: Shocks versus Responsiveness (2020)Changing Business Dynamism an…Firm Leverage, Consumer Demand, and Employment Losses During the Great Recession* (2016)Firm Leverage, Consumer Deman…Household Balance Sheets, Consumption, and the Economic Slump* (2013)Household Balance Sheets, Con…Leverage change, debt overhang, and stock prices (2010)Leverage change, debt overhan…Do Market Efficiency Measures Yield Correct Inferences? A Comparison of Developed and Emerging Markets (2010)Do Market Efficiency Measures…Leverage and investment in diversified firms☆ (2005)Leverage and investment in di…Tobin's Q , Debt Overhang, and Investment (2004)Tobin's Q , Debt Overhang, an…The impact of leverage on firm investment: Canadian evidence (2003)The impact of leverage on fir…Schooling and Labor Market Consequences of School Construction in Indonesia: Evidence from an Unusual Policy Experiment (2001)Schooling and Labor Market Co…Transactions Costs and Capital Structure Choice: Evidence from Financially Distressed Firms (1997)Transactions Costs and Capita…How Costly is Financial (Not Economic) Distress? Evidence from Highly Leveraged Transactions that Became Distressed (1997)How Costly is Financial (Not …Leverage, investment, and firm growth (1996)Leverage, investment, and fir…Financial Distress and Corporate Performance (1994)Financial Distress and Corpor…Determinants of corporate borrowing (1977)Determinants of corporate bor…The Cost of Capital, Corporation Finance and the Theory of Investment (1958)Dividend Policy, Growth, and the Valuation of Shares (1961)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)The Capital Structure Puzzle (1984)A Survey of Corporate Governance (1997)Efficient Capital Markets: A Review of Theory and Empirical Work (1970)EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency (1993)Stock return predictability and the adaptive markets hypothesis: Evidence from century-long U.S. data (2011)What Are the Best Liquidity Proxies for Global Research? (2011)The illiquidity premium: International evidence (2015)The Debt-Deflation Theory of Great Depressions (1933)Agency Costs, Net Worth, And Business Fluctuations (1988)Credit Cycles (1997)Growth Forecast Errors and Fiscal Multipliers (2013)The Employment Effects of Credit Market Disruptions: Firm-level Evidence from the 2008–9 Financial Crisis * (2013)Wealth Inequality in the United States since 1913: Evidence from Capitalized Income Tax Data * (2016)Corporate financing and investment decisions when firms have information that investors do not have (1984)The Cross-Section of Expected Stock Returns (1992)The determinants and implications of corporate cash holdings (1999)Default Risk in Equity Returns (2004)In Search of Distress Risk (2008)Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)\tThe Risk-Adjusted Cost of Financial Distress (2007)Trade-Off and Pecking Order Theories of Debt**We thank Long Chen, Sudipto Dasgupta, Espen Eckbo, Chris Hennessy, Jay Ritter, Michael Roberts, Tan Wang, and Jaime Zender for comments and helpful discussions. Murray Frank thanks Piper Jaffray for financial support. Vidhan Goyal thanks the Research Grants Council of the Hong Kong Special Administrative Region for financial support (Project No. 6489/06H). The literature on capital structure is vast, containing hundreds of papers, and so we cannot hope to cover it all. Inevitably, we have left out a great deal, much of it very important. As such, we apologize in advance for our inevitable oversights. Even more than usual, it must be stressed that this survey reflects only our views. (2008)Macroeconomic Conditions and the Puzzles of Credit Spreads and Capital Structure (2010)Specification Tests in Econometrics (1978)Corporate governance, accounting and finance: A review (2010)Dynamic panels with threshold effect and endogeneity (2016)Corporate social responsibility, firm value, and influential institutional ownership (2018)Managerial discretion and optimal financing policies (1990)Liquidation Values and Debt Capacity: A Market Equilibrium Approach (1992)Agency Costs, Risk Management, and Capital Structure (1998)How Big Are the Tax Benefits of Debt? (2000)Asset Fire Sales (and Purchases) in Equity Markets (2005)Agency costs of free cash flow, corporate finance, and takeovers (1996)The Relationship between Firm Investment and Financial Status (1999)Banks as Liquidity Providers: An Explanation for the Coexistence of Lending and Deposit‐taking (2002)Does female representation in top management improve firm performance? A panel data investigation (2012)Returns to investment in education: A global update (1994)Returns to Investment in Education: A Further Update (2002)Can Foreign Aid Buy Growth? (2003)The Role Of Education Quality For Economic Growth (2007)The (Perceived) Returns to Education and the Demand for Schooling * (2010)Common risk factors in the returns on stocks and bonds (1993)On Persistence in Mutual Fund Performance (1997)When Selling Becomes Viral: Disruptions in Debt Markets in the COVID-19 Crisis and the Fed’s Response (2020)COVID-19 pandemic and firm performance: Cross-country evidence (2021)Rethinking financial contagion: Information transmission mechanism during the COVID-19 pandemic (2022)
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References

  • 1977Determinants of corporate borrowing13,160 cited
  • 2001Schooling and Labor Market Consequences of School Construction in Indonesia: Evidence from an Unusual Policy Experiment1,939 cited
  • 1994Financial Distress and Corporate Performance1,660 cited
  • 2013Household Balance Sheets, Consumption, and the Economic Slump*1,543 cited
  • 1996Leverage, investment, and firm growth1,304 cited
  • 1997How Costly is Financial (Not Economic) Distress? Evidence from Highly Leveraged Transactions that Became Distressed1,255 cited
  • 2003The impact of leverage on firm investment: Canadian evidence650 cited
  • 2010Do Market Efficiency Measures Yield Correct Inferences? A Comparison of Developed and Emerging Markets555 cited
  • 2020How Valuable Is Financial Flexibility when Revenue Stops? Evidence from the COVID-19 Crisis501 cited
  • 1997Transactions Costs and Capital Structure Choice: Evidence from Financially Distressed Firms482 cited
  • 2016Firm Leverage, Consumer Demand, and Employment Losses During the Great Recession*410 cited
  • 2004Tobin's Q , Debt Overhang, and Investment362 cited
  • 2005Leverage and investment in diversified firms☆277 cited
  • 2020Changing Business Dynamism and Productivity: Shocks versus Responsiveness201 cited

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Liquidity versus Wealth in Household Debt Obligations: Evidence from Housing Policy in the Great Recession
200 cited
  • 2010Leverage change, debt overhang, and stock prices188 cited
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