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Persistent link: https://www.econbiz.de/10010462812
This paper broadens perpetuity gain to level (GL) research by analyzing the role of growth within the capital structure model (CSM) formalized by Hull (2007). We contrast the cost of using internal equity versus external equity when expanding a firm's assets. Contrary to pecking order theory, we...
Persistent link: https://www.econbiz.de/10009462238
Purpose – The purpose of this paper is to instruct advanced business students on the debt-equity choice by showing how wealth transfers between security holders influence security values when a levered firm undergoes an incremental debt-to-equity approach. Design/methodology/approach – The...
Persistent link: https://www.econbiz.de/10014941730