haku: @author Freixas, X. / yhteensä: 7
viite: 4 / 7
| Tekijä: | Bolton, P. Freixas, X. |
| Otsikko: | Equity, bonds, and bank debt: capital structure and financial market equilibrium under asymmetric information |
| Lehti: | Journal of Political Economy
2000 : APR, VOL. 108:2, p. 324-351 |
| Asiasana: | POLITICAL ECONOMY BONDS BANKS |
| Kieli: | eng |
| Tiivistelmä: | This paper proposes a model of financial markets and corporate finance, with asymmetric information and no taxes, where equity issues, bank debt, and bond financing coexist in equilibrium. The relationship banking aspect of financial intermediation is emphasized: firms turn to banks as a source of investment mainly because banks are good at helping then through times of financial distress. This financial flexibility is costly since banks face costs of capital themselves. |
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