Macroeconomic Factors and Corporate Capital Structure
نویسندگان
چکیده
منابع مشابه
Capital structure , credit risk , and macroeconomic conditions
This paper develops a framework for analyzing the impact of macroeconomic conditions on credit risk and dynamic capital structure choice. We begin by observing that when cash flows depend on current economic conditions, there will be a benefit for firms to adapt their default and financing policies to the position of the economy in the business cycle phase. We then demonstrate that this simple ...
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ژورنال
عنوان ژورنال: Procedia - Social and Behavioral Sciences
سال: 2014
ISSN: 1877-0428
DOI: 10.1016/j.sbspro.2013.12.897