DEBT FINANCING AND IMPORTANCE OF FIXED ASSETS AND GOODWILL ASSETS AS COLLATERAL: DYNAMIC PANEL EVIDENCE

نویسندگان
چکیده

برای دانلود باید عضویت طلایی داشته باشید

برای دانلود متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

منابع مشابه

Financing Durable Assets

This paper studies the financing of durable assets in a model with collateral constraints due to limited enforcement. Durability affects the ease of financing: we show that more durable assets require larger down payments of internal funds per unit of capital making them harder to finance, because durability raises the price of an asset and hence the overall financing need more than its collate...

متن کامل

Evidence of European IFRS Adoption: The effect on goodwill and intangible assets

We investigate how the adoption of IFRS 3, business combinations, affected reported goodwill and whether the change was relevant for stock market valuation of companies. We use data for all companies listed at the main Swedish stock exchanges. We find some evidence suggesting that aggregated goodwill impairment charges in 2005 are lower than aggregated goodwill amortizations in 2004. Hence, goo...

متن کامل

Optimal Default and Liquidation with Tangible Assets and Debt Renegotiation

This paper proposes a new pricing model for corporate securities issued by a levered firm with the possibility of debt renegotiation. We take the structural approach that the firm’s earnings follow a geometric Brownian motion with stochastic collaterals. While equity holders can default the firm for their own benefits when the earnings become insufficient to go on the firm, they may want to liq...

متن کامل

On assets and debt in the psychology of perceived wealth.

We studied the perception of wealth as a function of varying levels of assets and debt. We found that with total wealth held constant, people with positive net worth feel and are seen as wealthier when they have lower debt (despite having fewer assets). In contrast, people with equal but negative net worth feel and are considered wealthier when they have greater assets (despite having larger de...

متن کامل

بررسی رابطۀ میان ساختار بازار و ساختار سرمایه در بورس اوراق بهادار تهران

  In recent years, financial economists have increasingly recognized the interaction between market structure and capital structure or financial decisions of the firms.   This research analyzes the relationship between market structure (power) and the capital structure (leverage ratio) of listed companies in Tehran Stock Exchange (TSE) based on static and dynamic approach. In this research we s...

متن کامل

ذخیره در منابع من


  با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید

ژورنال

عنوان ژورنال: Journal of Business Economics and Management

سال: 2014

ISSN: 1611-1699,2029-4433

DOI: 10.3846/16111699.2013.772916