Debt Dynamics

Article Abstract:

A dynamic trade-off model is developed with endogenous choice of distributions, real investment, and leverage in the presence of individual taxes on corporate distributions and interest, a graduated corporate income tax, equity flotation costs, and financial distress costs. Findings for leverage are discussed.

Usage, Economic aspects, Measurement, Comparative analysis, Debt financing (Corporations), Leverage (Finance), Leverage, Econometric models, Corporate debt

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Tobin's Q, debt overhang, and investment

Article Abstract:

The effect of debt overhang, a situation where the debt stock of a country exceeds the country's future capacity to repay it, on the investments and long-lived assets is presented.

Public Finance Activities, National Government Liabilities & Debt, Asset & Risk Management, Asset Accounting, National debt, Public debts, Assets (Accounting)

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Presidential address, committing to commit: short-term debt when enforcement is costly

Article Abstract:

Lenders have to enforce debt contract when dept is short-term. The relationship of enforcement cost with number of lenders and incentive benefit is explained.

Externalities (Economics), Lender liability

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