Horses and Rabbits? Optimal Dynamic Capital Structure from Shareholder and Manager Perspectives
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This paper examines optimal capital structure choice using a dynamic capital structure model that is calibrated to reflect actual firm characteristics. The model uses contingent-claim methods to value interest tax shields, allows for reorganization in bankruptcy, and maintains a long-run target debt
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美国国家经济研究局创建时间：
2002-11-01
