Determinants of corporate borrowing¶
Why this mattered¶
TBD
Abstract¶
(no abstract available)
Related¶
- cite → ON THE PRICING OF CORPORATE DEBT: THE RISK STRUCTURE OF INTEREST RATES* — Myers's corporate-borrowing theory uses Merton's structural debt-pricing model to connect leverage choices with default risk and debt value.
- cite → Theory of the firm: Managerial behavior, agency costs and ownership structure — Myers's borrowing determinants rely on agency-cost theory to explain conflicts between shareholders, managers, and debtholders in capital structure.
- enables → Corporate financing and investment decisions when firms have information that investors do not have — Static tradeoff ideas about debt determinants framed the capital-structure benchmark that Myers and Majluf contrasted with information-driven financing choices.
- cite ← Corporate financing and investment decisions when firms have information that investors do not have — Myers and Majluf cite Miller's corporate borrowing theory as prior capital-structure work on debt financing incentives.