Similar Search Results

The corporate finance of multinational firms

Erel, Isil; Jang, Yeejin; Weisbach, Michael S. - 2020

An increasing fraction of firms worldwide operate in multiple countries. We study the costs and benefits of being multinational in firms' corporate financial decisions and survey the related academic evidence. We document that, among U.S. publicly traded firms, the prevalence of multinationals...

Persistent link: https://www.econbiz.de/10012168946

Chapter 4. Financing of Corporations

Myers, Stewart C. - 2003

This review evaluates the four major theories of corporate financing: (1) the Modigliani–Miller theory of capital …-structure irrelevance, in which firm values and real investment decisions are unaffected by financing; (2) the trade-off theory, in which … financing responds to managers’ personal incentives; and (4) the pecking-order theory, in which financing adapts to mitigate …

Persistent link: https://www.econbiz.de/10014023872

The Commitment Role of Equity Financing

Fahn, Matthias; Merlo, Valeria; Wamser, Georg - 2014

theory are in line with a number of empirical results, which seem to stay in contrast to existing theories on capital …

Persistent link: https://www.econbiz.de/10010398643

The Commitment Role of Equity Financing

Fahn, Matthias; Merlo, Valeria; Wamser, Georg - CESifo - 2014

theory are in line with a number of empirical results, which seem to stay in contrast to existing theories on capital …

Persistent link: https://www.econbiz.de/10010877665

The commitment role of equity financing

Fahn, Matthias; Wamser, Georg; Merlo, Valeria - 2017

analysis provides an explanation for why some firms only use little debt financing. Predictions made by our theory are in line …

Persistent link: https://www.econbiz.de/10011916757

The Commitment Role of Equity Financing

Fahn, Matthias; Wamser, Georg; Merlo, Valeria - 2017

analysis provides an explanation for why some firms only use little debt financing. Predictions made by our theory are in line …

Persistent link: https://www.econbiz.de/10011932906

Private Equity Fund Debt : Capital Flows, Performance, and Agency Costs

Albertus, James F. - 2020

A subscription line of credit (SLC) is debt issued to a private equity fund and used on a continuing basis. Using new data on U.S. buyout funds, we show that when funds use subscription lines of credit they call less capital. We find that funds using SLCs have substantial distortions in...

Persistent link: https://www.econbiz.de/10012848806

Financing investment: the choice between bonds and bank loans

Morellec, Erwan; Valta, Philip; Zhdanov, Alexei - 2014

investment. We test these predictions using a sample of U.S. firms and present new evidence that supports our theory …

Persistent link: https://www.econbiz.de/10010258730

Leaning against the wind : debt financing in the face of adversity

Brennan, Michael J.; Kraft, Holger - 2015

We offer evidence of a new stylized feature of corporate financing decisions: the tendency of managers to rely more on debt financing when earnings prospects are poor. We term this 'leaning against the wind' and consider three possible explanations: market timing, precautionary financing, and...

Persistent link: https://www.econbiz.de/10011434790

News about zero-leverage firms

Geelen, Thomas A. - 2016

-cycle theory of debt maturity …

Persistent link: https://www.econbiz.de/10011626255