Valuing firm’s financial flexibility under default risk and bankruptcy costs: a WACC based approach
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DOI: 10.1108/ijmf-05-2018-0151
Abstract: PurposeThe purpose of this paper is to present a model to value leveraged firms in the presence of default risk and bankruptcy costs under a flexible firm’s debt structure.Design/methodology/approachThe authors assume that the total debt… read more here.
Keywords: bankruptcy costs; debt; financial flexibility; approach ... See more keywords