and Martell, R., 2006, "Capital structure and equity liquidity: A bi-directional rela- tionship," Unpublished Working Paper, Purdue University.Frieder, L. and R. Martell, 2006, Capital structure and equity liquidity: A bi-directional relationship, working paper, Purdue University....
This paper investigates the relationship between capital structure and stock liquidity surrounding pure leverage recapitalizations. A substitution of debt for equity in the firm's capital structure increases the informational asymmetry of the firm's equity leading to increases in the firm's equity liquid...
Capital Structure and Equity Liquidity This paper investigates the relationship between capital structure and stock liquidity surrounding pure leverage recapitalizations. A substitution of debt ... DA Lesmond,PF O'Connor,LW Senbet - 《Social Science Electronic Publishing》 被引量: 74发表: 2008年 ...
We explore the relationship between liquidity of a firm€s equity and its capital structure. Firms with more liquid stocks benefit from lower costs of equity issuance. Therefore, it is hypothesized that such firms are likely to have a preference for equity in their capital structure. This article...
capital structurespreadsThough prior capital structure literature suggests a causal relation between liquidity and leverage (i.e., liquidity affects leverage), we explore the notion that these variables are jointly determined. Consistent with the idea that debt forces managers to make better investment ...
Definition: Capital calls are requests made by fund managers to investors for pledged funds, ensuring short-term liquidity for investments and operations. Purpose: They bridge gaps between funding agreements and fund availability, often used in private equity and real estate funds. Structure: Capital ...
We analyze the impact of expected (targeted) capital structure decisions on information asymmetries. We measure information asymmetry from equity liquidity through the use of an information asymmetry index that is based on six measures that capture trading activity, trading costs, and the price impact...
Implications of Government Deficits for Interest Rates, Equity Returns and Corporate Financing How the financing of government budget deficits affects the structure of expected asset returns depends on assets' relative substitutabilities in investors' aggregate portfolio, and these substitutabilities in turn...
auditing, examination of the records and reports of an enterprise by specialists other than those responsible for their preparation. Public auditing by independent, impartial accountants has acquired professional status and become increasingly common wit
Business Capital Structure A company’s balance sheet provides for metric analysis of a capital structure, which is split among assets, liabilities, and equity. The mix defines the structure. Debt financing represents a cash capital asset that must be repaid over time through scheduled liabilities....