Credit market frictions and capital structure dynamics

DOI10.1016/J.JET.2014.09.021zbMATH Open1330.91181OpenAlexW3121884230MaRDI QIDQ894071FDOQ894071

Semyon Malamud, J. Hugonnier, Erwan Morellec

Publication date: 23 November 2015

Published in: Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.jet.2014.09.021

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zbMATH Keywords

default riskdynamic capital structurecredit supply uncertaintysearch and bargaining

Mathematics Subject Classification ID

Credit risk (91G40) Corporate finance (dividends, real options, etc.) (91G50)

Cites Work

• Over-the-Counter Markets
• Markov perfect equilibrium. I: Observable actions
• Term Structures of Credit Spreads with Incomplete Accounting Information
• Maintaining a Reputation when Strategies are Imperfectly Observed
• Credit market frictions and capital structure dynamics
• Optimal capital structure and endogenous default
• Investment Reversibility and Agency Cost of Debt
• Capital mobility and asset pricing
• Endogenous Liquidity and Defaultable Bonds
• RETHINKING DYNAMIC CAPITAL STRUCTURE MODELS WITH ROLL‐OVER DEBT

Cited In (11)

• On a dividend problem with random funding
• Target-initiated takeover with search frictions
• Optimal Dividend Strategy for a General Diffusion Process with Time-Inconsistent Preferences and Ruin Penalty
• A mechanism for thawing the credit markets
• Financial frictions, capital reallocation, and aggregate fluctuations
• Numerical Approximation of a Cash-Constrained Firm Value with Investment Opportunities
• Title not available (Why is that?)
• Liquidity management with decreasing returns to scale and secured credit line
• Credit market frictions and capital structure dynamics
• The interaction of debt financing, cash grants and the optimal investment policy under uncertainty
• The effects of asset liquidity on dynamic sell-out and bankruptcy decisions

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