Excessive continuation and dynamic agency costs of debt

European Economic Review

Volumn 46, Issue 9, 2002, Pages 1623-1644

  Décamps, Jean Paul ^a   Faure Grimaud, Antoine ^b,c  

^a UNIVERSITÉ DE TOULOUSE   (France)

^b LONDON SCHOOL OF ECONOMICS   (United Kingdom)

^c CEPR   (United Kingdom)

Author keywords

Debt; Dynamic agency costs; Scrapping option

Indexed keywords

DEBT; MODELING; THEORETICAL STUDY;

EID: 0036772275     PISSN: 00142921     EISSN: None     Source Type: Journal    
DOI: 10.1016/S0014-2921(02)00242-8     Document Type: Article

References (23)

1. Design and valuation of debt contracts
2. Strategic analysis of contingent claims
3. The valuation of sequential exchange opportunities
4. A variational approach for pricing options and corporate bonds
5. Does asset ownership always motivate managers? Outside options and the property rights theory of the firm
6. Asset substitution, debt pricing, optimal leverage and maturity
7. The valuation of corporate liabilities as compound options
8. Property rights and the nature of the firm
9. Default and renegotiation: A dynamic model of debt
10. Theory of the firm: Managerial behavior, agency costs and ownership structure
11. Risky debt, bond covenants and optimal capital structure
12. Agency costs, risk management, and capital structure
13. Optimal capital structure, endogenous bankruptcy, and the term structure of credit spread
14. Agency costs, underinvestment, and optimal capital structure: The effect of growth options to expand
15. Investment and valuation of firms when there is an option to shut down
16. The dynamics of default and debt reorganization
17. Strategic debt service
18. Measuring agency cost of debt
19. Determinants of corporate borrowing
20. Real options