Concept

Capital structure substitution theory

Related publications (25)

Migration distance from birthplace and its association with relative income and employment share among heterosexual couples in Switzerland

Vincent Kaufmann, Guillaume Simon Joseph Drevon, Alexis Gumy, Gil Viry, Florian Lucien Jacques Masse

Among heterosexual couples, employment of the female partner may suffer from household migration often driven by the job of the male partner. Most research has traditionally focused on the distance moved after couple formation and has neglected how far par ...

2024

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 ...

EPFL2021

Three Essays in Banking and Finance

Damien Olivier Klossner

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 ...

EPFL2019

Natural seesaw and leptogenesis from hybrid of high-scale type I and TeV-scale inverse

Majid Ekhterachian, Luca Vecchi

We develop an extension of the basic inverse seesaw model which addresses simultaneously two of its drawbacks, namely, the lack of explanation of the tiny Majorana mass term for the TeV-scale singlet fermions and the difficulty in achieving successful lept ...

Springer2019

Essays in Corporate Finance

Thomas Antonius Geelen

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 ...

EPFL2018

Adapting Governance Incentives to Avoid Common Pool Resource Underuse: The Case of Swiss Summer Pastures

Ivo Philippe Baur

The use of summer pastures in the European Alps provides much evidence against Hardin's prediction of the tragedy of the commons. For centuries, farmers have kept summer pastures in communal tenure and avoided its overuse with self-designed regulations. Du ...

2018

Credit Supply and the Macroeconomy

Abhik Mukherjee

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 ...

EPFL2016

Credit 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 ...

2015

The effects of business cycle and debt maturity on a firm's investment and default decisions

Michi Nishihara

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 Bv2015

Credit Market Frictions and Capital Structure Dynamics

Semyon Malamud, Erwan Morellec, Julien Hugonnier

2012

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