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In 1825, France conditioned its grant of recognition to the new nation of Haiti on the payment of 150 million francs plus trade benefits. The payments were, at least in part, compensation for the losses that French plantation owners suffered, a key part of which was the loss of enslaved...
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securities. Also, this research finds that different types of debt are explained differently by existing debt maturity theory …This paper documents the different debt maturity choices of firms by allowing debt heterogeneity. We use a sample of US … companies' capital structure and employ dynamic panel regressions and Instrumental Variable approach. When taking the maturity …
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Corporate debt maturity is a concave function of financial leverage when the debt has restrictive asset-based covenants …) to reduce the probability of covenant violation. We also find that maturity-leverage concavity is reduced when executive …
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both theoretical and empirical research pertaining to debt characteristics – maturity and priority – and debt types – bank …
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both theoretical and empirical research pertaining to debt characteristics—maturity and priority—and debt types—bank loans …
Persistent link: https://www.econbiz.de/10014351981
Deleveraging, whether via reductions in debt or increases in assets, is costly due to value transfers from shareholders to creditors. It is especially costly in the presence of long-term debt and when the need to deleverage is high. This paper, first, provides empirical evidence consistent with...
Persistent link: https://www.econbiz.de/10014236515