Optimal capital structure and bankruptcy choice: Dynamic bargaining versus liquidation
Sign Up to like & getrecommendations! Published in 2019 at "Journal of Financial Economics"
DOI: 10.1016/j.jfineco.2018.05.012
Abstract: We model a firm’s optimal capital structure decision in a framework in which it may later choose to enter either Chapter 11 reorganization or Chapter 7 liquidation. Creditors anticipate equityholders’ ex-post reorganization incentives and price… read more here.
Keywords: reorganization; optimal capital; dynamic bargaining; capital structure ... See more keywords
Optimal capital taxation revisited
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DOI: 10.1016/j.jmoneco.2019.09.015
Abstract: We revisit the question of how capital should be taxed. We allow for a rich set of tax instruments that consists of taxes widely used in practice, including consumption, dividend, capital, and labor income taxes.… read more here.
Keywords: capital taxed; taxation revisited; optimal capital; capital ... See more keywords
Shadow banking and optimal capital requirements
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DOI: 10.1016/j.red.2020.05.004
Abstract: This paper studies optimal time-varying capital requirements in a general equilibrium model with two types of financial intermediaries: regulated commercial banks (CBs) and unregulated shadow banks (SBs). Subject to capital regulation, each CB faces higher… read more here.
Keywords: capital; capital requirements; finance; effect ... See more keywords
Optimal capital allocation with copulas
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DOI: 10.15672/hjms.20174620776
Abstract: In this paper, we investigate optimal capital allocation problems for a portfolio consisting of different lines of risks linked by a Farlie-Gumbel- Morgenstern copula, modelling the dependence between them. Based on the Tail Mean-Variance principle,… read more here.
Keywords: allocation copulas; capital allocation; capital; optimal capital ... See more keywords
IMPACT OF SELECTED CHARACTERISTICS OF SMES ON THE CAPITAL STRUCTURE
Sign Up to like & getrecommendations! Published in 2018 at "Journal of Business Economics and Management"
DOI: 10.3846/jbem.2018.6583
Abstract: The optimal capital structure is a key precondition for business, even though defining the optimal capital structure is difficult. The available studies present many different and mutually contradictory factors that need to be taken into… read more here.
Keywords: capital structure; capital; impact selected; business ... See more keywords