Zobrazeno 1 - 10
of 19
pro vyhledávání: '"Egon Zakrajšek"'
Publikováno v:
SSRN Electronic Journal.
The canonical framework used to price risky debt implies that the payoff structure of levered equity resembles the payoff of a call option, while the bondholders face a payoff structure that is equivalent to that of an investor writing a put option.
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::3dddb7746b06b85dffc4c82fdcc58830
https://doi.org/10.2139/ssrn.2503636
https://doi.org/10.2139/ssrn.2503636
Financial frictions distort the allocation of resources among productive units--all else equal, firms whose financing choices are affected by such frictions face higher borrowing costs than firms with ready access to capital markets. As a result, inp
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=od_______645::34b7fcc017670d0efb4b2df9fcb7702f
http://www.nber.org/papers/w18550.pdf
http://www.nber.org/papers/w18550.pdf
