메뉴 건너뛰기




Volumn 66, Issue 1, 2011, Pages 99-138

Leverage, Moral Hazard, and Liquidity

Author keywords

[No Author keywords available]

Indexed keywords


EID: 78650989436     PISSN: 00221082     EISSN: 15406261     Source Type: Journal    
DOI: 10.1111/j.1540-6261.2010.01627.x     Document Type: Article
Times cited : (244)

References (40)
  • 1
    • 34547689672 scopus 로고    scopus 로고
    • Does industry-wide distress affect defaulted firms? Evidence from creditor recoveries
    • Acharya, Viral, Sreedhar Bharath, and Anand Srinivasan, 2007, Does industry-wide distress affect defaulted firms? Evidence from creditor recoveries, Journal of Financial Economics 85, 787-821.
    • (2007) Journal of Financial Economics , vol.85 , pp. 787-821
    • Acharya, V.1    Bharath, S.2    Srinivasan, A.3
  • 2
    • 68949150361 scopus 로고    scopus 로고
    • Restoring Financial Stability: How to Repair a Failed System
    • Viral Acharya and, Matthew Richardson, eds.: (New York University and John Wiley & Sons, Hoboken, NJ).
    • Acharya, Viral, Thomas Philippon, Matthew Richardson, and Nouriel Roubini, 2009, Prologue: A bird's eye view, in Viral Acharya and Matthew Richardson, eds.: Restoring Financial Stability: How to Repair a Failed System (New York University and John Wiley & Sons, Hoboken, NJ).
    • (2009) Prologue: A bird's eye view
    • Acharya, V.1    Philippon, T.2    Richardson, M.3    Roubini, N.4
  • 3
    • 78650983626 scopus 로고    scopus 로고
    • Securitization without risk transfer, Working paper, New York University, Stern School of Business.
    • Acharya, Viral, Philipp Schnabl, and Gustavo Suarez, 2009, Securitization without risk transfer, Working paper, New York University, Stern School of Business.
    • (2009)
    • Acharya, V.1    Schnabl, P.2    Suarez, G.3
  • 4
    • 78650993724 scopus 로고    scopus 로고
    • Fire-sale FDI, Working paper, New York University, Stern School of Business.
    • Acharya, Viral V., Hyun-Song Shin, and Tanju Yorulmazer, 2007, Fire-sale FDI, Working paper, New York University, Stern School of Business.
    • (2007)
    • Acharya, V.V.1    Shin, H.2    Yorulmazer, T.3
  • 6
    • 84963057501 scopus 로고
    • An incomplete contracts approach to contracting
    • Aghion, P., and P. Bolton, 1992, An incomplete contracts approach to contracting, The Review of Economic Studies 59, 473-494.
    • (1992) The Review of Economic Studies , vol.59 , pp. 473-494
    • Aghion, P.1    Bolton, P.2
  • 8
    • 0000552715 scopus 로고
    • Liquidity preference, market participation and asset price volatility
    • Allen, Franklin, and Douglas Gale, 1994, Liquidity preference, market participation and asset price volatility, American Economic Review 84, 933-955.
    • (1994) American Economic Review , vol.84 , pp. 933-955
    • Allen, F.1    Gale, D.2
  • 9
    • 0010794391 scopus 로고    scopus 로고
    • Optimal financial crises
    • Allen, Franklin, and Douglas Gale, 1998, Optimal financial crises, Journal of Finance 53, 1245-1284.
    • (1998) Journal of Finance , vol.53 , pp. 1245-1284
    • Allen, F.1    Gale, D.2
  • 10
    • 78650995000 scopus 로고    scopus 로고
    • Collateral and market liquidity, Working paper, Fuqua School of Business, Duke University.
    • Anshuman, Ravi, and S. Viswanathan, 2006, Collateral and market liquidity, Working paper, Fuqua School of Business, Duke University.
    • (2006)
    • Anshuman, R.1    Viswanathan, S.2
  • 11
    • 78650971366 scopus 로고    scopus 로고
    • The global saving glut and the U.S. current account deficit, speech delivered for the Sandridge Lecture at the Virginia Association of Economists, Richmond, March 10, accessed November 18, 2010).
    • Bernanke, Ben, 2005, The global saving glut and the U.S. current account deficit, speech delivered for the Sandridge Lecture at the Virginia Association of Economists, Richmond, March 10, (accessed November 18, 2010).
    • (2005)
    • Bernanke, B.1
  • 12
    • 84977364496 scopus 로고
    • Agency costs, net worth, and business fluctuations
    • Bernanke, Ben, and Mark Gertler, 1989, Agency costs, net worth, and business fluctuations, American Economic Review 79, 14-31.
    • (1989) American Economic Review , vol.79 , pp. 14-31
    • Bernanke, B.1    Gertler, M.2
  • 13
    • 78650990549 scopus 로고    scopus 로고
    • Inside and outside liquidity, Working paper, Columbia University.
    • Bolton, Patrick, Tano Santos, and Jose Scheinkman, 2008, Inside and outside liquidity, Working paper, Columbia University.
    • (2008)
    • Bolton, P.1    Santos, T.2    Scheinkman, J.3
  • 15
    • 0042409462 scopus 로고    scopus 로고
    • International and domestic collateral constraints in a model of emerging market crisis
    • Caballero, R., and A. Krishnamurthy, 2001, International and domestic collateral constraints in a model of emerging market crisis, Journal of Monetary Economics 48, 513-548.
    • (2001) Journal of Monetary Economics , vol.48 , pp. 513-548
    • Caballero, R.1    Krishnamurthy, A.2
  • 17
    • 84917319886 scopus 로고
    • Reputation acquisition in debt markets
    • Diamond, Douglas, 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.1
  • 18
    • 0000674080 scopus 로고
    • Debt maturity structure and liquidity risk
    • Diamond, Douglas, 1991, Debt maturity structure and liquidity risk, Quarterly Journal of Economics 106, 709-737.
    • (1991) Quarterly Journal of Economics , vol.106 , pp. 709-737
    • Diamond, D.1
  • 19
    • 84944074311 scopus 로고    scopus 로고
    • Presidential address: Committing to commit: Short-term debt when enforcement is costly
    • Diamond, Douglas, 2004, Presidential address: Committing to commit: Short-term debt when enforcement is costly, Journal of Finance 59, 1447-1479.
    • (2004) Journal of Finance , vol.59 , pp. 1447-1479
    • Diamond, D.1
  • 20
    • 85010390101 scopus 로고
    • Bank runs, deposit insurance, and liquidity
    • Diamond, Douglas, and Philip Dybvig, 1983, Bank runs, deposit insurance, and liquidity, Journal of Political Economy 91, 401-419.
    • (1983) Journal of Political Economy , vol.91 , pp. 401-419
    • Diamond, D.1    Dybvig, P.2
  • 21
    • 0034988947 scopus 로고    scopus 로고
    • Liquidity risk, liquidity creation, and financial fragility: A theory of banking
    • Diamond, Douglas, and Raghuram G. Rajan, 2001, Liquidity risk, liquidity creation, and financial fragility: A theory of banking, Journal of Political Economy 109, 287-327.
    • (2001) Journal of Political Economy , vol.109 , pp. 287-327
    • Diamond, D.1    Rajan, R.G.2
  • 22
    • 78650974247 scopus 로고    scopus 로고
    • Margin-based asset pricing and deviations from the law of one price, Working paper, New York University, Stern School of Business.
    • Garleanu, Nicolae, and Lasse Pedersen, 2009, Margin-based asset pricing and deviations from the law of one price, Working paper, New York University, Stern School of Business.
    • (2009)
    • Garleanu, N.1    Pedersen, L.2
  • 23
    • 1842512912 scopus 로고    scopus 로고
    • Fixed point theory
    • Springer Monographs in Mathematics, Springer-Verlag, New York
    • Granas, Andrej, and James Dugundji, 2003, Fixed point theory (Springer Monographs in Mathematics, Springer-Verlag, New York).
    • (2003)
    • Granas, A.1    Dugundji, J.2
  • 24
    • 84877149952 scopus 로고    scopus 로고
    • Equilibrium and welfare in markets with financially constrained arbitrageurs
    • Gromb, Denis, and Dimitri Vayanos, 2002, Equilibrium and welfare in markets with financially constrained arbitrageurs, Journal of Financial Economics 66, 361-407.
    • (2002) Journal of Financial Economics , vol.66 , pp. 361-407
    • Gromb, D.1    Vayanos, D.2
  • 25
    • 0003897082 scopus 로고
    • Firms, Contracts and Financial Structure
    • Oxford University Press, Oxford, UK).
    • Hart, Oliver, 1995, Firms, Contracts and Financial Structure (Oxford University Press, Oxford, UK).
    • (1995)
    • Hart, O.1
  • 26
    • 84960599817 scopus 로고
    • A theory of debt based on the inalienability of human capital
    • Hart, O., and J. Moore, 1994, A theory of debt based on the inalienability of human capital, Quarterly Journal of Economics 109, 841-879.
    • (1994) Quarterly Journal of Economics , vol.109 , pp. 841-879
    • Hart, O.1    Moore, J.2
  • 28
    • 0001600291 scopus 로고
    • Entry, exit, and firm dynamics in long run equilibrium
    • Hopenhayn, H. A., 1992, Entry, exit, and firm dynamics in long run equilibrium, Econometrica 60, 1127-1150.
    • (1992) Econometrica , vol.60 , pp. 1127-1150
    • Hopenhayn, H.A.1
  • 29
    • 44649197264 scopus 로고
    • Theory of the firm: Managerial behavior, agency costs, and capital structure
    • Jensen, M., and W. Meckling, 1976, Theory of the firm: Managerial behavior, agency costs, and capital structure, Journal of Financial Economics 3, 305-360.
    • (1976) Journal of Financial Economics , vol.3 , pp. 305-360
    • Jensen, M.1    Meckling, W.2
  • 31
    • 0042229588 scopus 로고    scopus 로고
    • Collateral constraints and the amplification mechanism
    • Krishnamurthy, A., 2003, Collateral constraints and the amplification mechanism, Journal of Economic Theory 111, 277-292.
    • (2003) Journal of Economic Theory , vol.111 , pp. 277-292
    • Krishnamurthy, A.1
  • 32
    • 78650969521 scopus 로고    scopus 로고
    • Fire-sale FDI, available at, accessed November 18, 2010).
    • Krugman, Paul, 1998, Fire-sale FDI, available at (accessed November 18, 2010).
    • (1998)
    • Krugman, P.1
  • 34
    • 22044446488 scopus 로고    scopus 로고
    • Liquidity black holes
    • Morris, S., and H-S. Shin, 2004, Liquidity black holes, Review of Finance 8, 1-18.
    • (2004) Review of Finance , vol.8 , pp. 1-18
    • Morris, S.1    Shin, H.2
  • 35
    • 78650970177 scopus 로고    scopus 로고
    • Carry trades and speculative dynamics, Working paper, London Business School, London, UK.
    • Plantin, Guillaume, and Hyun-Song Shin, 2006, Carry trades and speculative dynamics, Working paper, London Business School, London, UK.
    • (2006)
    • Plantin, G.1    Shin, H.2
  • 36
    • 0040250337 scopus 로고    scopus 로고
    • Do asset fire sales exist: An empirical investigation of commercial aircraft sale transactions
    • Pulvino, Todd, 1998, Do asset fire sales exist: An empirical investigation of commercial aircraft sale transactions, Journal of Finance 53, 939-978.
    • (1998) Journal of Finance , vol.53 , pp. 939-978
    • Pulvino, T.1
  • 37
    • 84977721574 scopus 로고
    • Liquidation values and debt capacity: A market equilibrium approach
    • Shleifer, Andrei, and Robert Vishny, 1992, Liquidation values and debt capacity: A market equilibrium approach, Journal of Finance 47, 1343-1366.
    • (1992) Journal of Finance , vol.47 , pp. 1343-1366
    • Shleifer, A.1    Vishny, R.2
  • 38
    • 0000342340 scopus 로고
    • Credit rationing in markets with imperfect information
    • Stiglitz, Joseph, and A. Weiss 1981, Credit rationing in markets with imperfect information, American Economic Review 71, 393-410.
    • (1981) American Economic Review , vol.71 , pp. 393-410
    • Stiglitz, J.1    Weiss, A.2
  • 40
    • 84977702527 scopus 로고
    • Corporate finance and corporate governance
    • Williamson, Oliver, 1988, Corporate finance and corporate governance, Journal of Finance 43, 567-592.
    • (1988) Journal of Finance , vol.43 , pp. 567-592
    • Williamson, O.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.