When does strategic debt service matter?

Recent work has suggested that strategic underperformance of debt-service obligations by equity holders can resolve the gap between observed yield spreads and those generated by Merton (1974)-style models.(...)

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Year of publication:	2002-08-13
Authors:	Acharya, Viral V. ; Huang, Jing-zhi ; Subrahmanyam, Marti G. ; Sundaram, Rangarajan K.
Publisher:	Salomon Center for the Study of Financial Institutions <New York, NY>
Subject:	Schuldendienst \| Strategic debt-service \| Bankrott

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Extent:	380928 bytes 45 p. application/pdf
Series:	Salomon Center for the Study of Financial Institutions <New York, NY> - Publications Paper - Salomon Center for the Study of Financial Institutions <New York, NY> - Credit & Debt Markets Research Program ; 2002,03
Type of publication:	Book / Working Paper
Language:	English
Classification:	G13 - Contingent Pricing; Futures Pricing ; G33 - Bankruptcy; Liquidation ; G35 - Payout Policy ; Strategic planning ; Leasing, Factoring. Special cases of financing ; Individual Working Papers, Preprints ; No country specification
Source:	USB Cologne (business full texts)

Persistent link: https://www.econbiz.de/10005846831