Optimal bond refunding: a practical approach

Article Abstract:

An attempt to develop an optimal refunding policy model, which is both practical and realistic, is undertaken. Although several literatures have been written on optimal bond refunding they fail to take into account important features such as interest rate risk, market imperfections, embedded call options and, most importantly, bond yield stickiness to short-term interest rate changes. The incorporation of these factors into the model will make it a more complete but a more practical guide to bond refunding decision-making.

Models, Bond funds

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Optimal entrepreneurial financial contracting

Article Abstract:

A theory of optimal financial contracting is modeled on the conflict of interest between risk averse entrepreneurs and financiers, when incorporating costs such as bankruptcy and taxes.

Research, Entrepreneurship

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Debt overhang, costly expandability and reversibility, and optimal financial structure

Article Abstract:

Several financing and investment decisions and their importance in determining financial structure of the firm are compared and analyzed.

United States, Strategy & planning, Methods, Decision-making, Decision making, Planning, Investments, Comparative analysis, Corporations, Corporate finance, Company business planning, Financing

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