The corporate choice between public debt, bank loans, traditional private debt placements, and 144A debt issues
Author
Abstract
Suggested Citation
DOI: 10.1007/s11156-010-0182-3
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Cantillo, Miguel & Wright, Julian, 2000.
"How Do Firms Choose Their Lenders? An Empirical Investigation,"
Review of Financial Studies,
Society for Financial Studies, vol. 13(1), pages 155-189.
- Miguel Cantillo & Julian Wright, 1998. "How Do Firms Choose Their Lenders? An Empirical Investigation," Finance 9803007, EconWPA.
- Cantillo, Miguel & Wright, Julian, 2000. "HOw Do Firms Choose Their Leaders? An Empirical Investigation," Research Program in Finance, Working Paper Series qt8sd393sj, Research Program in Finance, Institute for Business and Economic Research, UC Berkeley.
- Miguel Cantillo and Julian Wright., 2000. "How Do Firms Choose Their Lenders? An Empirical Investigation," Research Program in Finance Working Papers RPF-256-Rev, University of California at Berkeley.
- Smith, Clifford Jr. & Watts, Ross L., 1992.
"The investment opportunity set and corporate financing, dividend, and compensation policies,"
Journal of Financial Economics,
Elsevier, vol. 32(3), pages 263-292, December.
- Smith, C.W. & Watts, R.L., 1992. "The Investment Oppotunity set and Corporate Financing, Dividend and Compensation Policies," Papers 92-02, Rochester, Business - Financial Research and Policy Studies.
- Charles J. Hadlock & Christopher M. James, 2002. "Do Banks Provide Financial Slack?," Journal of Finance, American Finance Association, vol. 57(3), pages 1383-1419, June.
- Susan Chaplinsky & Latha Ramchand, 2004. "The Impact of SEC Rule 144A on Corporate Debt Issuance by International Firms," The Journal of Business, University of Chicago Press, vol. 77(4), pages 1073-1098, October.
- Chen, Long & Zhao, Xinlei, 2006. "On the relation between the market-to-book ratio, growth opportunity, and leverage ratio," Finance Research Letters, Elsevier, vol. 3(4), pages 253-266, December.
- Myers, Stewart C., 1977. "Determinants of corporate borrowing," Journal of Financial Economics, Elsevier, vol. 5(2), pages 147-175, November.
- Klock, Mark S. & Mansi, Sattar A. & Maxwell, William F., 2005. "Does Corporate Governance Matter to Bondholders?," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 40(04), pages 693-719, December.
- Henderson, Brian J. & Jegadeesh, Narasimhan & Weisbach, Michael S., 2006.
"World markets for raising new capital,"
Journal of Financial Economics,
Elsevier, vol. 82(1), pages 63-101, October.
- Brian J. Henderson & Narasimhan Jegadeesh & Michael S. Weisbach, 2004. "World Markets for Raising New Capital," NBER Working Papers 10225, National Bureau of Economic Research, Inc.
- Giovanni Butera & Robert Faff, 2006. "An integrated multi-model credit rating system for private firms," Review of Quantitative Finance and Accounting, Springer, vol. 27(3), pages 311-340, November.
- Fama, Eugene F. & French, Kenneth R., 1993. "Common risk factors in the returns on stocks and bonds," Journal of Financial Economics, Elsevier, vol. 33(1), pages 3-56, February.
- Mark S. Carey & Stephen D. Prowse & John Rea & Gregory F. Udell, 1993. "The economics of the private placement market," Staff Studies 166, Board of Governors of the Federal Reserve System (U.S.).
- Kaplan, Robert S & Urwitz, Gabriel, 1979. "Statistical Models of Bond Ratings: A Methodological Inquiry," The Journal of Business, University of Chicago Press, vol. 52(2), pages 231-261, April.
- Armando Gomes & Gordon Phillips, 2005. "Why Do Public Firms Issue Private and Public Securities?," NBER Working Papers 11294, National Bureau of Economic Research, Inc.
- Uday Chandra & Nandkumar (Nandu) Nayar, 2008. "The Information Content of Private Debt Placements," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 35(9-10), pages 1164-1195.
- Angbazo, Lazarus A. & Mei, Jianping & Saunders, Anthony, 1998. "Credit spreads in the market for highly leveraged transaction loans," Journal of Banking & Finance, Elsevier, vol. 22(10-11), pages 1249-1282, October.
- Fama, Eugene F., 1985. "What's different about banks?," Journal of Monetary Economics, Elsevier, vol. 15(1), pages 29-39, January.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Boyson, Nicole M. & Fahlenbrach, Rudiger & Stulz, Rene M., 2014.
"Why Do Banks Practice Regulatory Arbitrage? Evidence from Usage of Trust Preferred Securities,"
Working Paper Series
2014-01, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
- Boyson, Nicole M. & Fahlenbrach, Rudiger & Stulz, Rene M., 2014. "Why Do Banks Practice Regulatory Arbitrage? Evidence from Usage of Trust Preferred Securities," Working Papers 14-03, University of Pennsylvania, Wharton School, Weiss Center.
- Nicole Boyson & Rüdiger Fahlenbrach & René M. Stulz, 2014. "Why Do Banks Practice Regulatory Arbitrage? Evidence from Usage of Trust Preferred Securities," NBER Working Papers 19984, National Bureau of Economic Research, Inc.
- Johan, Sofia A. & Wu, Zhenyu, 2014. "Does the quality of lender–borrower relationships affect small business access to debt? Evidence from Canada and implications in China," International Review of Financial Analysis, Elsevier, vol. 36(C), pages 206-211.
- repec:kap:rqfnac:v:50:y:2018:i:1:d:10.1007_s11156-017-0630-4 is not listed on IDEAS
- Charlene P. Spiceland & Leo L. Yang & Joseph H. Zhang, 2016. "Accounting quality, debt covenant design, and the cost of debt," Review of Quantitative Finance and Accounting, Springer, vol. 47(4), pages 1271-1302, November.
- Arena, Matteo P. & Dewally, Michaël, 2012. "Firm location and corporate debt," Journal of Banking & Finance, Elsevier, vol. 36(4), pages 1079-1092.
- Meneghetti, Costanza, 2012. "Managerial Incentives and the Choice between Public and Bank Debt," Journal of Corporate Finance, Elsevier, vol. 18(1), pages 65-91.
- Mingzhi Liu & Michel Magnan, 2016. "Conditional conservatism and the yield spread of corporate bond issues," Review of Quantitative Finance and Accounting, Springer, vol. 46(4), pages 847-879, May.
- repec:eee:jbfina:v:87:y:2018:i:c:p:202-215 is not listed on IDEAS
More about this item
Keywords
Public debt; Private debt; Bank loans; 144A debt; Capital structure; G32; G21;JEL classification:
- G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
- G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:rqfnac:v:36:y:2011:i:3:p:391-416. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sonal Shukla) or (Rebekah McClure). General contact details of provider: http://springer.com .
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.