Concept
Trade-off theory of capital structure
Related publications (29)
Essays in Banking and Financial Regulation
Susanne Johanna Petronella Léonie Vissers
This thesis examines how banks choose their optimal capital structure and cash reserves in the presence of regulatory measures. The first chapter, titled Bank Capital Structure and Tail Risk, presents a bank capital structure model in which bank assets a ...
EPFL2021Coherent actions by homeomorphisms on the real line or an interval
We study actions of groups by orientation preserving homeomorphisms on R (or an interval) that are minimal, have solvable germs at +/-infinity and contain a pair of elements of a certain dynamical type. We call such actions coherent. We establish that such ...
HEBREW UNIV MAGNES PRESS2020Three Essays in Banking and Finance
This thesis develops three models that study the motivation of various agents to take on debt,
and the impact that excessive financial leverage can have on social welfare.
In the chapter "Short-term Bank Leverage and the Value of Liquid Reserves", the ince ...
EPFL2019Essays in Corporate Finance
In this thesis I study how firms choose their optimal debt maturity. The recent financial crisis illustrated why debt maturity is an important determinant of firmsâ capital structure and it also renewed economistsâ interest in this topic, see for examp ...
EPFL2018Introduction to High Pressure CO2 and H2O Technologies in Sustainable Biomass Processing
Jeremy Luterbacher, Ydna Marie Questell-Santiago
Biomass is an attractive source of renewable carbon-based fuels and chemicals and their production is envisaged within the framework of integrated biorefineries. Multiple research efforts to make biorefineries more economically competitive and sustainable ...
The Royal Society of Chemistry2017Credit Supply and the Macroeconomy
The policy response to the recent financial crisis has broadly focused on two themes: 1) Increasing the banking sectorsâ resilience to future financial shocks: 2) Improving credit availability to households and firms via lowering both short and long-term ...
EPFL2016Noncommutative Valuation of Options
The aim of this note is to show that the classical results in finance theory for pricing of derivatives, given by making use of the replication principle, can be extended to the noncommutative world. We believe that this could be of interest in quantum pro ...
2016Credit market frictions and capital structure dynamics
Semyon Malamud, Erwan Morellec, Julien Hugonnier
We study the implications of credit market frictions for the dynamics of corporate capital structure and the risk of default of corporations. To do so, we develop a dynamic capital structure model in which firms face uncertainty regarding their ability to ...
2015The effects of business cycle and debt maturity on a firm's investment and default decisions
We propose a model that jointly determines the capital structure and investment decisions taking business cycle and debt maturity into account. It endogenously determines the triggers of investment/disinvestment and default, which depend on the state of th ...
Elsevier Science Bv2015Essays in Empirical Corporate Finance
This dissertation consists of three chapters. The first chapter examines whether the availability of credit default swaps (CDS) has consequences for creditor governance. CDSs offer creditors the opportunity to hedge credit risk and may impact their willing ...
EPFL2015