메뉴 건너뛰기




Volumn 63, Issue 2, 2008, Pages 609-637

Empirical evidence of risk shifting in financially distressed firms

Author keywords

[No Author keywords available]

Indexed keywords


EID: 41649116245     PISSN: 00221082     EISSN: 15406261     Source Type: Journal    
DOI: 10.1111/j.1540-6261.2008.01326.x     Document Type: Article
Times cited : (249)

References (80)
  • 1
    • 0001917976 scopus 로고
    • Conditional heteroskedasticity in time series of stock returns: Evidence and forecasts
    • Akgiray, Vedat, 1989, Conditional heteroskedasticity in time series of stock returns: Evidence and forecasts, Journal of Business 62, 55 80.
    • (1989) Journal of Business , vol.62 , pp. 55-80
    • Akgiray, V.1
  • 2
    • 84980104458 scopus 로고
    • Financial ratios, discriminant analysis and the prediction of corporate bankruptcy
    • Altman, Edward I., 1968, Financial ratios, discriminant analysis and the prediction of corporate bankruptcy, Journal of Finance 23, 589 609.
    • (1968) Journal of Finance , vol.23 , pp. 589-609
    • Altman, E.I.1
  • 4
    • 0005880209 scopus 로고    scopus 로고
    • Answering the skeptics: Yes, standard volatility models do provide accurate forecasts
    • and.
    • Andersen, Torben G., and Tim Bollerslev, 1998, Answering the skeptics: Yes, standard volatility models do provide accurate forecasts, International Economic Review 39, 885 905.
    • (1998) International Economic Review , vol.39 , pp. 885-905
    • Andersen, T.G.1    Bollerslev, T.2
  • 5
    • 0038465465 scopus 로고    scopus 로고
    • How costly is financial (not economic) distress? Evidence from highly leveraged transactions that became distressed
    • and.
    • Andrade, Gregor, and Steven Kaplan, 1998, How costly is financial (not economic) distress? Evidence from highly leveraged transactions that became distressed, Journal of Finance 53, 1443 1493.
    • (1998) Journal of Finance , vol.53 , pp. 1443-1493
    • Andrade, G.1    Kaplan, S.2
  • 6
    • 0041672312 scopus 로고    scopus 로고
    • Market timing and capital structure
    • and.
    • Baker, Malcolm, and Jeffrey Wurgler, 2002, Market timing and capital structure, Journal of Finance 57, 1 32.
    • (2002) Journal of Finance , vol.57 , pp. 1-32
    • Baker, M.1    Wurgler, J.2
  • 7
    • 19144370865 scopus 로고    scopus 로고
    • On the debt capacity of growth options
    • and.
    • Barclay, Michael J., Erwan Morellec, and Clifford W. Smith, 2006, On the debt capacity of growth options, Journal of Business 79, 37 59.
    • (2006) Journal of Business , vol.79 , pp. 37-59
    • Barclay, M.J.1    Morellec, E.2    Smith, C.W.3
  • 8
    • 84993839692 scopus 로고
    • The maturity structure of corporate debt
    • and.
    • Barclay, Michael J., and Clifford W. Smith, 1995a, The maturity structure of corporate debt, Journal of Finance 50, 609 631.
    • (1995) Journal of Finance , vol.50 , pp. 609-631
    • Barclay, M.J.1    Smith, C.W.2
  • 9
    • 84993924992 scopus 로고
    • The priority structure of corporate liabilities
    • and.
    • Barclay, Michael J., and Clifford W. Smith, 1995b, The priority structure of corporate liabilities, Journal of Finance 50, 899 917.
    • (1995) Journal of Finance , vol.50 , pp. 899-917
    • Barclay, M.J.1    Smith, C.W.2
  • 10
    • 84977331446 scopus 로고
    • A rationale for debt maturity structure and call provisions in an agency theoretic framework
    • and.
    • Barnea, Amir, Robert A. Haugen, and Lemma W. Senbet, 1980, A rationale for debt maturity structure and call provisions in an agency theoretic framework, Journal of Finance 35, 1223 1234.
    • (1980) Journal of Finance , vol.35 , pp. 1223-1234
    • Barnea, A.1    Haugen, R.A.2    Senbet, L.W.3
  • 12
    • 85015692260 scopus 로고
    • The pricing of options and corporate liabilities
    • and.
    • Black, Fischer, and Myron Scholes, 1973, The pricing of options and corporate liabilities, Journal of Political Economy 81, 637 654.
    • (1973) Journal of Political Economy , vol.81 , pp. 637-654
    • Black, F.1    Scholes, M.2
  • 13
    • 42449156579 scopus 로고
    • Generalized autoregressive conditional heteroskedasticity
    • Bollerslev, Tim, 1986, Generalized autoregressive conditional heteroskedasticity, Journal of Econometrics 31, 307 327.
    • (1986) Journal of Econometrics , vol.31 , pp. 307-327
    • Bollerslev, T.1
  • 14
    • 34848900983 scopus 로고
    • ARCH modeling in finance: A review of the theory and empirical evidence
    • and.
    • Bollerslev, Tim, Ray Y. Chou, and Kenneth F. Kroner, 1992, ARCH modeling in finance: A review of the theory and empirical evidence, Journal of Econometrics 52, 5 59.
    • (1992) Journal of Econometrics , vol.52 , pp. 5-59
    • Bollerslev, T.1    Chou, R.Y.2    Kroner, K.F.3
  • 15
    • 84986841571 scopus 로고
    • Managerial compensation and the agency costs of debt finance
    • and.
    • Brander, James, and Michel Poitevin, 1992, Managerial compensation and the agency costs of debt finance, Managerial and Decision Economics 13, 55 64.
    • (1992) Managerial and Decision Economics , vol.13 , pp. 55-64
    • Brander, J.1    Poitevin, M.2
  • 17
    • 0030375056 scopus 로고    scopus 로고
    • Uncertainty, investment and industry evolution
    • and.
    • Caballero, Ricardo J., and Robert S. Pindyck, 1996, Uncertainty, investment and industry evolution, International Economic Review 37, 641 662.
    • (1996) International Economic Review , vol.37 , pp. 641-662
    • Caballero, R.J.1    Pindyck, R.S.2
  • 18
    • 41649095862 scopus 로고    scopus 로고
    • Reducing asset substitution with warrant and convertible debt issues
    • and.
    • Chesney, Marc, and Rajna Gibson-Asner, 2001, Reducing asset substitution with warrant and convertible debt issues, Journal of Derivatives 9, 39 52.
    • (2001) Journal of Derivatives , vol.9 , pp. 39-52
    • Chesney, M.1    Gibson-Asner, R.2
  • 22
    • 84917319886 scopus 로고
    • Reputation acquisition in debt markets
    • Diamond, Douglas W., 1989, Reputation acquisition in debt markets, Journal of Political Economy 97, 828 862.
    • (1989) Journal of Political Economy , vol.97 , pp. 828-862
    • Diamond, D.W.1
  • 23
    • 84935413182 scopus 로고
    • Monitoring and reputation: The choice between bank loans and directly placed debt
    • Diamond, Douglas W., 1991, Monitoring and reputation: The choice between bank loans and directly placed debt, Journal of Political Economy 99, 689 721.
    • (1991) Journal of Political Economy , vol.99 , pp. 689-721
    • Diamond, D.W.1
  • 25
    • 0038309552 scopus 로고    scopus 로고
    • Control benefits and CEO discipline in automatic bankruptcy auctions
    • and.
    • Eckbo, B. Espen, and Karin S. Thorburn, 2003, Control benefits and CEO discipline in automatic bankruptcy auctions, Journal of Financial Economics 69, 227 258.
    • (2003) Journal of Financial Economics , vol.69 , pp. 227-258
    • Eckbo, B.E.1    Thorburn, K.S.2
  • 26
    • 0000051984 scopus 로고
    • Autoregressive conditional heteroskedasticity with estimates of the variance of UK inflation
    • Engle, Robert, 1982, Autoregressive conditional heteroskedasticity with estimates of the variance of UK inflation, Econometrica 50, 987 1008.
    • (1982) Econometrica , vol.50 , pp. 987-1008
    • Engle, R.1
  • 27
    • 4344615968 scopus 로고    scopus 로고
    • Structural models of corporate bond pricing: An empirical analysis
    • and.
    • Eom, Young Ho, Jean Helwege, and Jing-Zhi Huang, 2004, Structural models of corporate bond pricing: An empirical analysis, Review of Financial Studies 17, 499 544.
    • (2004) Review of Financial Studies , vol.17 , pp. 499-544
    • Eom, Y.H.1    Helwege, J.2    Huang J.-Zhi3
  • 28
    • 0012663228 scopus 로고
    • Evidence on the relationship between uncertainty and irreversible investment
    • Episcopos, Athanasios, 1995, Evidence on the relationship between uncertainty and irreversible investment, Quarterly Review of Economics and Finance 35, 41 52.
    • (1995) Quarterly Review of Economics and Finance , vol.35 , pp. 41-52
    • Episcopos, A.1
  • 29
    • 0005071631 scopus 로고    scopus 로고
    • Asset substitution, debt pricing, optimal leverage and maturity
    • Ericsson, Jan, 2000, Asset substitution, debt pricing, optimal leverage and maturity, Finance 21, 39 70.
    • (2000) Finance , vol.21 , pp. 39-70
    • Ericsson, J.1
  • 31
    • 84977707417 scopus 로고
    • An empirical test of the impact of managerial self-interest on corporate capital structure
    • and.
    • Friend, Irwin, and Larry H. P. Lang, 1988, An empirical test of the impact of managerial self-interest on corporate capital structure, Journal of Finance 43, 271 281.
    • (1988) Journal of Finance , vol.43 , pp. 271-281
    • Friend, I.1    Lang, L.H.P.2
  • 32
    • 84937319306 scopus 로고
    • Agency problems of debt, convertible securities, and deviations from absolute priority in bankruptcy
    • and.
    • Frierman, Michael, and P. V. Viswanath, 1993, Agency problems of debt, convertible securities, and deviations from absolute priority in bankruptcy, Journal of Law and Economics 37, 455 476.
    • (1993) Journal of Law and Economics , vol.37 , pp. 455-476
    • Frierman, M.1    Viswanath, P.V.2
  • 33
    • 33749030268 scopus 로고
    • The option pricing model and the risk factor of stock
    • and.
    • Galai, Dan, and Ronald W. Masulis, 1976, The option pricing model and the risk factor of stock, Journal of Financial Economics 3, 53 81.
    • (1976) Journal of Financial Economics , vol.3 , pp. 53-81
    • Galai, D.1    Masulis, R.W.2
  • 34
    • 0030553431 scopus 로고    scopus 로고
    • Product market competition and the impact of price uncertainty on investment: Some evidence from US manufacturing industries
    • and.
    • Ghosal, Vivek, and Prakash Loungani, 1996, Product market competition and the impact of price uncertainty on investment: Some evidence from US manufacturing industries, Journal of Industrial Economics 44, 217 228.
    • (1996) Journal of Industrial Economics , vol.44 , pp. 217-228
    • Ghosal, V.1    Loungani, P.2
  • 35
    • 0000028238 scopus 로고
    • Evidence on the role of cash flow for investment
    • and.
    • Gilchrist, Simon, and Charles P. Himmelberg, 1995, Evidence on the role of cash flow for investment, Journal of Monetary Economics 36, 541 572.
    • (1995) Journal of Monetary Economics , vol.36 , pp. 541-572
    • Gilchrist, S.1    Himmelberg, C.P.2
  • 36
    • 0000318873 scopus 로고    scopus 로고
    • The theory and practice of corporate finance: Evidence from the field
    • and.
    • Graham, John R., and Campbell R. Harvey, 2001, The theory and practice of corporate finance: Evidence from the field, Journal of Financial Economics 60, 187 243.
    • (2001) Journal of Financial Economics , vol.60 , pp. 187-243
    • Graham, J.R.1    Harvey, C.R.2
  • 37
    • 0001282337 scopus 로고
    • Investment incentives, debt, and warrants
    • Green, Richard C., 1984, Investment incentives, debt, and warrants, Journal of Financial Economics 13, 115 136.
    • (1984) Journal of Financial Economics , vol.13 , pp. 115-136
    • Green, R.C.1
  • 38
    • 0039470461 scopus 로고    scopus 로고
    • The determinants of the maturity of corporate debt issues
    • and.
    • Guedes, Jose, and Tim Opler, 1996, The determinants of the maturity of corporate debt issues, Journal of Finance 51, 1809 1833.
    • (1996) Journal of Finance , vol.51 , pp. 1809-1833
    • Guedes, J.1    Opler, T.2
  • 39
    • 19644379708 scopus 로고    scopus 로고
    • A forecast comparison of volatility models: Does anything beat a GARCH(1,1)?
    • and
    • Hansen, Peter, and Asger Lunde, 2005, A forecast comparison of volatility models: Does anything beat a GARCH(1,1)? Journal of Applied Econometrics 20, 873 889.
    • (2005) Journal of Applied Econometrics , vol.20 , pp. 873-889
    • Hansen, P.1    Lunde, A.2
  • 41
    • 0000504678 scopus 로고
    • The determinants of board composition
    • and.
    • Hermalin, Benjamin E., and Michael S. Weisbach, 1988, The determinants of board composition, Rand Journal of Economics 19, 589 606.
    • (1988) Rand Journal of Economics , vol.19 , pp. 589-606
    • Hermalin, B.E.1    Weisbach, M.S.2
  • 43
    • 0002308919 scopus 로고
    • Corporate structure, liquidity and investment: Evidence from Japanese industrial groups
    • and.
    • Hoshi, Takeo, Anil Kashyap, and David Scharfstein, 1991, Corporate structure, liquidity and investment: Evidence from Japanese industrial groups, Quarterly Journal of Economics 56, 33 60.
    • (1991) Quarterly Journal of Economics , vol.56 , pp. 33-60
    • Hoshi, T.1    Kashyap, A.2    Scharfstein, D.3
  • 44
    • 44649197264 scopus 로고
    • Theory of the firm: Managerial behavior, agency costs and ownership structure
    • and.
    • Jensen, Michael C., and William H. Meckling, 1976, Theory of the firm: Managerial behavior, agency costs and ownership structure, Journal of Financial Economics 3, 305 360.
    • (1976) Journal of Financial Economics , vol.3 , pp. 305-360
    • Jensen, M.C.1    Meckling, W.H.2
  • 45
    • 84993908989 scopus 로고
    • Top-management compensation and capital structure
    • and.
    • John, Kose, and Teresa John, 1993, Top-management compensation and capital structure, Journal of Finance 48, 949 974.
    • (1993) Journal of Finance , vol.48 , pp. 949-974
    • John, K.1    John, T.2
  • 47
    • 0003112060 scopus 로고    scopus 로고
    • Do financing constraints explain why investment is correlated with cash flow?
    • and
    • Kaplan, Steven N., and Luigi Zingales, 1997, Do financing constraints explain why investment is correlated with cash flow? Quarterly Journal of Economics 112, 169 215.
    • (1997) Quarterly Journal of Economics , vol.112 , pp. 169-215
    • Kaplan, S.N.1    Zingales, L.2
  • 48
    • 0037375927 scopus 로고    scopus 로고
    • Capital structure choice: Macroeconomic conditions and financial constraints
    • and.
    • Korajczyk, Robert A., and Amnon Levy, 2003, Capital structure choice: Macroeconomic conditions and financial constraints, Journal of Financial Economics 68, 75 109.
    • (2003) Journal of Financial Economics , vol.68 , pp. 75-109
    • Korajczyk, R.A.1    Levy, A.2
  • 49
    • 1642328740 scopus 로고    scopus 로고
    • Convertible bond design and capital investment: The role of call provisions
    • and.
    • Korkeamaki, Timo P., and William T. Moore, 2004, Convertible bond design and capital investment: The role of call provisions, Journal of Finance 59, 391 405.
    • (2004) Journal of Finance , vol.59 , pp. 391-405
    • Korkeamaki, T.P.1    Moore, W.T.2
  • 51
    • 0030544384 scopus 로고    scopus 로고
    • The effect of uncertainty on investment: Some stylized facts
    • and.
    • Leahy, John V., and Toni M. Whited, 1996, The effect of uncertainty on investment: Some stylized facts, Journal of Money, Credit, and Banking 28, 64 83.
    • (1996) Journal of Money, Credit, and Banking , vol.28 , pp. 64-83
    • Leahy, J.V.1    Whited, T.M.2
  • 52
    • 0002350933 scopus 로고    scopus 로고
    • Agency costs, risk management, and capital structure
    • Leland, Hayne E., 1998, Agency costs, risk management, and capital structure, Journal of Finance 53, 1213 1243.
    • (1998) Journal of Finance , vol.53 , pp. 1213-1243
    • Leland, H.E.1
  • 53
    • 33646754875 scopus 로고    scopus 로고
    • Predictions of default probabilities in structural models of debt
    • Leland, Hayne E., 2004, Predictions of default probabilities in structural models of debt, Journal of Investment Management 2, 5 20.
    • (2004) Journal of Investment Management , vol.2 , pp. 5-20
    • Leland, H.E.1
  • 54
    • 14944358563 scopus 로고    scopus 로고
    • Real options, agency conflicts, and optimal capital structure
    • and.
    • Mauer, David C., and Sudipto Sarkar, 2004, Real options, agency conflicts, and optimal capital structure, Journal of Banking and Finance 29, 1405 1428.
    • (2004) Journal of Banking and Finance , vol.29 , pp. 1405-1428
    • Mauer, D.C.1    Sarkar, S.2
  • 55
    • 0031616466 scopus 로고    scopus 로고
    • Why firms issue convertible bonds: The matching of financial and real investment options
    • Mayers, David, 1998, Why firms issue convertible bonds: The matching of financial and real investment options, Journal of Financial Economics 47, 83 102.
    • (1998) Journal of Financial Economics , vol.47 , pp. 83-102
    • Mayers, D.1
  • 57
    • 0000207706 scopus 로고
    • Executive compensation structure, ownership, and firm performance
    • Mehran, Hamid, 1995, Executive compensation structure, ownership, and firm performance, Journal of Financial Economics 38, 163 184.
    • (1995) Journal of Financial Economics , vol.38 , pp. 163-184
    • Mehran, H.1
  • 58
    • 0000808665 scopus 로고
    • On the pricing of corporate debt: The risk structure of interest rates
    • Merton, Robert C., 1974, On the pricing of corporate debt: The risk structure of interest rates, Journal of Finance 29, 449 470.
    • (1974) Journal of Finance , vol.29 , pp. 449-470
    • Merton, R.C.1
  • 59
    • 33645896609 scopus 로고
    • Management ownership and corporate performance: An empirical analysis
    • and.
    • Morck, Randall, Andrei Shleifer, and Robert W. Vishny, 1988, Management ownership and corporate performance: An empirical analysis, Journal of Financial Economics 20, 293 315.
    • (1988) Journal of Financial Economics , vol.20 , pp. 293-315
    • Morck, R.1    Shleifer, A.2    Vishny, R.W.3
  • 60
    • 0000706085 scopus 로고
    • A simple positive semidefinite heteroskedasticity and autocorrelation consistent covariance matrix
    • and.
    • Newey, Whitney K., and Kenneth D. West, 1987, A simple positive semidefinite heteroskedasticity and autocorrelation consistent covariance matrix, Econometrica 55, 703 708.
    • (1987) Econometrica , vol.55 , pp. 703-708
    • Newey, W.K.1    West, K.D.2
  • 61
    • 0000666375 scopus 로고
    • Financial ratios and the probabilistic prediction of bankruptcy
    • Ohlson, James A., 1980, Financial ratios and the probabilistic prediction of bankruptcy, Journal of Accounting Research 18, 109 131.
    • (1980) Journal of Accounting Research , vol.18 , pp. 109-131
    • Ohlson, J.A.1
  • 63
    • 45149141217 scopus 로고
    • Alternative models for conditional stock volatility
    • and.
    • Pagan, Adrian R., and G. William Schwert, 1990, Alternative models for conditional stock volatility, Journal of Econometrics 45, 267 290.
    • (1990) Journal of Econometrics , vol.45 , pp. 267-290
    • Pagan, A.R.1    Schwert, G.W.2
  • 64
    • 0012235377 scopus 로고    scopus 로고
    • Measuring investment distortions arising from stockholder-bondholder conflicts
    • and.
    • Parrino, Robert, and Michael S. Weisbach, 1999, Measuring investment distortions arising from stockholder-bondholder conflicts, Journal of Financial Economics 53, 3 42.
    • (1999) Journal of Financial Economics , vol.53 , pp. 3-42
    • Parrino, R.1    Weisbach, M.S.2
  • 65
    • 0000888844 scopus 로고
    • Irreversible investment, capacity choice and the value of the firm
    • Pindyck, Robert S., 1988, Irreversible investment, capacity choice and the value of the firm, American Economic Review 78, 969 985.
    • (1988) American Economic Review , vol.78 , pp. 969-985
    • Pindyck, R.S.1
  • 66
    • 0000557677 scopus 로고
    • Economic instability and aggregate investment
    • and.
    • Pindyck, Robert S., and Andres Solimano, 1993, Economic instability and aggregate investment, NBER Macroeconomics Annual 8, 259 303.
    • (1993) NBER Macroeconomics Annual , vol.8 , pp. 259-303
    • Pindyck, R.S.1    Solimano, A.2
  • 67
    • 84993839747 scopus 로고
    • What do we know about capital structure? Some evidence from international data
    • and.
    • Rajan, Raghuram G., and Luigi Zingales, 1995, What do we know about capital structure? Some evidence from international data, Journal of Finance 50, 1421 1460.
    • (1995) Journal of Finance , vol.50 , pp. 1421-1460
    • Rajan, R.G.1    Zingales, L.2
  • 69
    • 0036149166 scopus 로고    scopus 로고
    • Stock volatility in the new millennium: How wacky is Nasdaq?
    • Schwert, G. William, 2002, Stock volatility in the new millennium: How wacky is Nasdaq? Journal of Monetary Economics 49, 3 26.
    • (2002) Journal of Monetary Economics , vol.49 , pp. 3-26
    • Schwert, G.W.1
  • 70
    • 38249043340 scopus 로고
    • Investment banking and the capital acquisition process
    • Smith, Clifford W., 1986. Investment banking and the capital acquisition process, Journal of Financial Economics 15, 3 29.
    • (1986) Journal of Financial Economics , vol.15 , pp. 3-29
    • Smith, C.W.1
  • 71
    • 49249143360 scopus 로고
    • On financial contracting: An analysis of bond covenants
    • and.
    • Smith, Clifford W., and Jerold B. Warner, 1979, On financial contracting: An analysis of bond covenants, Journal of Financial Economics 7, 117 162.
    • (1979) Journal of Financial Economics , vol.7 , pp. 117-162
    • Smith, C.W.1    Warner, J.B.2
  • 72
    • 2342505938 scopus 로고
    • The investment opportunity set and corporate financing, dividend, and compensation policies
    • and.
    • Smith, Clifford W., and Ross L. Watts, 1992, The investment opportunity set and corporate financing, dividend, and compensation policies, Journal of Financial Economics 32, 263 292.
    • (1992) Journal of Financial Economics , vol.32 , pp. 263-292
    • Smith, C.W.1    Watts, R.L.2
  • 73
    • 0039470546 scopus 로고    scopus 로고
    • The determinants of corporate debt maturity structure
    • and.
    • Stohs, Mark H., and David C. Mauer, 1996. The determinants of corporate debt maturity structure, Journal of Business 69, 279 312.
    • (1996) Journal of Business , vol.69 , pp. 279-312
    • Stohs, M.H.1    Mauer, D.C.2
  • 75
    • 84977737536 scopus 로고
    • The determinants of capital structure choice
    • and.
    • Titman, Sheridan, and Roberto Wessels, 1988, The determinants of capital structure choice, Journal of Finance 43, 1 19.
    • (1988) Journal of Finance , vol.43 , pp. 1-19
    • Titman, S.1    Wessels, R.2
  • 76
    • 0003553294 scopus 로고    scopus 로고
    • MIT Press, Cambridge, M.A.).
    • Trigeorgis, Lenos, 1996, Real Options (MIT Press, Cambridge, M.A.).
    • (1996) Real Options
    • Trigeorgis, L.1
  • 77
    • 0000650195 scopus 로고
    • The predictive ability of several models of exchange rate volatility
    • and.
    • West, Kenneth D., and Dongchul Cho, 1995, The predictive ability of several models of exchange rate volatility, Journal of Econometrics 69, 367 391.
    • (1995) Journal of Econometrics , vol.69 , pp. 367-391
    • West, K.D.1    Cho, D.2
  • 78
    • 0000095552 scopus 로고
    • A heteroskedasticity-consistent covariance matrix estimator and a direct test for heteroskedasticity
    • White, Halbert, 1980, A heteroskedasticity-consistent covariance matrix estimator and a direct test for heteroskedasticity, Econometrica 48, 817 838.
    • (1980) Econometrica , vol.48 , pp. 817-838
    • White, H.1
  • 79
    • 84977734564 scopus 로고
    • Debt, liquidity constraints, and corporate investment: Evidence from panel data
    • Whited, Toni M., 1992, Debt, liquidity constraints, and corporate investment: Evidence from panel data, Journal of Finance 47, 1425 1460.
    • (1992) Journal of Finance , vol.47 , pp. 1425-1460
    • Whited, T.M.1
  • 80
    • 0001953906 scopus 로고
    • Methodological issues related to the estimation of financial distress prediction models
    • Supplement
    • Zmijewski, Mark E., 1984, Methodological issues related to the estimation of financial distress prediction models, Journal of Accounting Research 22 (Supplement 59 82.
    • (1984) Journal of Accounting Research , vol.22 , pp. 59-82
    • Zmijewski, M.E.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.