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The Cost of Debt

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NBER2010-05-01 更新2025-01-04 收录
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https://www.nber.org/papers/w16023
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We estimate firm-specific marginal cost of debt functions for a large panel of companies between 1980 and 2007. The marginal cost curves are identified by exogenous variation in the marginal tax benefits of debt. The location of a given company's cost of debt function varies with characteristics
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2010-05-01
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