This empirical research study deals with an interesting, yet little explored, comparative relationship between cost of equity capital and leverage in matched sets of U.S. domestic firms and multinational corporations (MNCs) in a cross-sectional as well as time-series framework. Applying the...

This volume, consisting of papers presented at a conference held at Williamsburg, Va., 2-3 April 1981, is a progress report on the National Bureau of Economic Research project, The Changing Roles of Debt and Equity in Financing U.S. Capital Formation. The National Bureau has undertaken this...

We build a dynamic capital structure model to study the link between systematic risk exposure and debt maturity, as well as their joint impact on the term structure of credit spreads. Our model allows for time variation and lumpiness in the maturity structure. Relative to short-term debt,...