摘要 : We develop a binomial lattice model of zero-leverage behaviour using a real option on debt issuance. With the option, firms may delay issuance even when debt is feasible and adds value to the firm. We find that firms are more like... 展开
作者 | Lundberg~ Clark Lotfaliei~ Babak |
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作者单位 | |
期刊名称 | 《Applied economics letters》 |
页码/总页数 | 1160-1169 / 10 |
语种/中图分类号 | 英语 / F8 |
关键词 | Zero leverage binomial lattice real option trade-off theory capital structure |
DOI | 10.1080/13504851.2019.1675860 |
馆藏号 | F-266 |