FRINK Linked Data Fragments server

Matches in SemOpenAlex for { <https://semopenalex.org/work/W1569725062> ?p ?o ?g. }

• W1569725062 abstract "Performance sensitive debt (PSD) contracts link the paid coupon to a measure of firm performance. PSD contracts are widely used, especially as corporate bank loans. In a model where a firm has assets in place and the opportunity to invest in a growth option, I analyze how PSD affects equityholders' investment and financing incentives. With no pre-existing debt I show that PSD reduces a given firm's optimal leverage, indicating that in this case PSD partially solves potential future conflicts related to debt overhang. With debt in place I show that PSD financing magnifies equityholders' risk-shifting incentives, proving that in this case PSD is an inefficient financing tool. My conclusion questions the hypothesis that PSD is used to prevent asset substitution. When debt overhang creates problems of underinvestment I show that PSD financing partially resolves these inefficiencies. My conclusions are partially based on numerical analysis, but they are robust to changes in input parameters." @default.
• W1569725062 created "2016-06-24" @default.
• W1569725062 creator A5079492575 @default.
• W1569725062 date "2012-01-01" @default.
• W1569725062 modified "2023-09-23" @default.
• W1569725062 title "Performance Sensitive Debt - Investment and Financing Incentives" @default.
• W1569725062 cites W1830686257 @default.
• W1569725062 cites W1967302844 @default.
• W1569725062 cites W1995503011 @default.
• W1569725062 cites W2000578291 @default.
• W1569725062 cites W2093073741 @default.
• W1569725062 cites W2101093637 @default.
• W1569725062 cites W2105973145 @default.
• W1569725062 cites W2117767955 @default.
• W1569725062 cites W2126804458 @default.
• W1569725062 cites W2143011038 @default.
• W1569725062 cites W2146278264 @default.
• W1569725062 cites W2151127264 @default.
• W1569725062 cites W2163657448 @default.
• W1569725062 cites W2740766300 @default.
• W1569725062 cites W3121159596 @default.
• W1569725062 cites W3123258852 @default.
• W1569725062 cites W3124114405 @default.
• W1569725062 cites W3124130847 @default.
• W1569725062 cites W3125175221 @default.
• W1569725062 cites W3125183900 @default.
• W1569725062 doi "https://doi.org/10.2139/ssrn.2103610" @default.
• W1569725062 hasPublicationYear "2012" @default.
• W1569725062 type Work @default.
• W1569725062 sameAs 1569725062 @default.
• W1569725062 citedByCount "2" @default.
• W1569725062 countsByYear W15697250622015 @default.
• W1569725062 countsByYear W15697250622017 @default.
• W1569725062 crossrefType "journal-article" @default.
• W1569725062 hasAuthorship W1569725062A5079492575 @default.
• W1569725062 hasBestOaLocation W15697250622 @default.
• W1569725062 hasConcept C10138342 @default.
• W1569725062 hasConcept C119857082 @default.
• W1569725062 hasConcept C120527767 @default.
• W1569725062 hasConcept C144133560 @default.
• W1569725062 hasConcept C153083717 @default.
• W1569725062 hasConcept C162324750 @default.
• W1569725062 hasConcept C175444787 @default.
• W1569725062 hasConcept C17744445 @default.
• W1569725062 hasConcept C199539241 @default.
• W1569725062 hasConcept C202189257 @default.
• W1569725062 hasConcept C27548731 @default.
• W1569725062 hasConcept C2777482880 @default.
• W1569725062 hasConcept C2778776786 @default.
• W1569725062 hasConcept C29122968 @default.
• W1569725062 hasConcept C2992672087 @default.
• W1569725062 hasConcept C38652104 @default.
• W1569725062 hasConcept C41008148 @default.
• W1569725062 hasConcept C47702881 @default.
• W1569725062 hasConcept C556758197 @default.
• W1569725062 hasConcept C76178495 @default.
• W1569725062 hasConcept C94625758 @default.
• W1569725062 hasConceptScore W1569725062C10138342 @default.
• W1569725062 hasConceptScore W1569725062C119857082 @default.
• W1569725062 hasConceptScore W1569725062C120527767 @default.
• W1569725062 hasConceptScore W1569725062C144133560 @default.
• W1569725062 hasConceptScore W1569725062C153083717 @default.
• W1569725062 hasConceptScore W1569725062C162324750 @default.
• W1569725062 hasConceptScore W1569725062C175444787 @default.
• W1569725062 hasConceptScore W1569725062C17744445 @default.
• W1569725062 hasConceptScore W1569725062C199539241 @default.
• W1569725062 hasConceptScore W1569725062C202189257 @default.
• W1569725062 hasConceptScore W1569725062C27548731 @default.
• W1569725062 hasConceptScore W1569725062C2777482880 @default.
• W1569725062 hasConceptScore W1569725062C2778776786 @default.
• W1569725062 hasConceptScore W1569725062C29122968 @default.
• W1569725062 hasConceptScore W1569725062C2992672087 @default.
• W1569725062 hasConceptScore W1569725062C38652104 @default.
• W1569725062 hasConceptScore W1569725062C41008148 @default.
• W1569725062 hasConceptScore W1569725062C47702881 @default.
• W1569725062 hasConceptScore W1569725062C556758197 @default.
• W1569725062 hasConceptScore W1569725062C76178495 @default.
• W1569725062 hasConceptScore W1569725062C94625758 @default.
• W1569725062 hasLocation W15697250621 @default.
• W1569725062 hasLocation W15697250622 @default.
• W1569725062 hasOpenAccess W1569725062 @default.
• W1569725062 hasPrimaryLocation W15697250621 @default.
• W1569725062 hasRelatedWork W1584413352 @default.
• W1569725062 hasRelatedWork W1825172539 @default.
• W1569725062 hasRelatedWork W1988694960 @default.
• W1569725062 hasRelatedWork W1990879064 @default.
• W1569725062 hasRelatedWork W2072974482 @default.
• W1569725062 hasRelatedWork W2076103933 @default.
• W1569725062 hasRelatedWork W2087414625 @default.
• W1569725062 hasRelatedWork W2151851171 @default.
• W1569725062 hasRelatedWork W2554693052 @default.
• W1569725062 hasRelatedWork W2576255459 @default.
• W1569725062 hasRelatedWork W2584527968 @default.
• W1569725062 hasRelatedWork W2994751092 @default.
• W1569725062 hasRelatedWork W3117485017 @default.
• W1569725062 hasRelatedWork W3119660674 @default.
• W1569725062 hasRelatedWork W3122412664 @default.
• W1569725062 hasRelatedWork W3124755018 @default.
• W1569725062 hasRelatedWork W3125578977 @default.
• W1569725062 hasRelatedWork W3125757214 @default.

• next