Global ETD Search
Search theses and dissertations gathered from participating repositories worldwide. Every result links back to the library that holds it. No account is needed.
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Showing 1 to 20 of 28 for “"Corporate debt"”.
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The corporate debt maturity choice : an empirical examination
… of capital structure, empirical research in the corporate debt maturity area is still scant. Related studies had formulated theoretical justifications for the observed cross-sectional multiplicity of debt maturities without a parallel concern in empirical research and to date, little empirical …
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THREE ESSAYS ON LENDING AND CORPORATE DEBT STRUCTURE
This dissertation explores bank lending and corporate debt structure. The first essay tests the impact of government expropriation risk on the terms of cross-border syndicated loans. By comparing loans by foreign lenders from countries covered by bilateral investment treaties (BITs) to loans from …
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Modelling credit spreads in an illiquid South African corporate debt market
The South African debt market suffers from severe illiquidity, as is common in most emerging markets. Infrequent trading leads to out-of-date market prices and stale, unreliable credit spreads. Since the coverage of the South African debt market by credit ratings agencies is poor, meaningful credit …
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Change in Corporate debt levels in South Africa from 1994 to 2016
This paper aims to investigate the change in corporate debt levels in South Africa from 1994 to 2016, included is an analysis of factors that firms take into consideration when determining the company’s capital structure. This study uses data from firms in the Real Estate and REIT, Travel and …
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Change in Corporate Debt Levels in South Africa from 1994 to 2016
This paper investigated the change in corporate debt levels in South Africa from 1994 to 2016. Included is an analysis of factors that companies take into consideration when determining the company's capital structure. This study used data from companies, largely from the mining sector, within …
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Change in corporate debt levels in South Africa from 1994 to 2016
This paper aims to investigate the change in corporate debt levels in South Africa from 1994 to 2016 as well as analyse certain factors that play a role in the decision making of corporates when it comes to the all important decision of capital structure. The study uses data from large …
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An Analysis of Considerations Underlying the Use of Certain Proprietary Covenants in Corporate Debt Financing
Made available in DSpace on 2014-12-11T23:19:49Z (GMT). No. of bitstreams: 1 7309948.pdf: 4453393 bytes, checksum: 95eb43b818dc99c59091064bd0be0c05 (MD5) Previous issue date: 1972
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The economic and financial policies of local governments in South Africa : a theoretical analysis
… are presented in Chapter Six. The theory of corporate debt capacity is drawn upon and an analogous model of local government debt capacity is presented. The Modiglian/Miller approach is adapted, and the conclusions of this model applied in the local government context. The implication is …
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Corporate Bonds and Equities: A Comparison of Returns
… aided research in this domain. The research on corporate bond markets is considerably less due to both the illiquid and over-the-counter (OTC) nature of these markets which have resulted in less easy availability of reliable data sources. Corporate bond and equities possess commonalities in …
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Essays on debt markets
This thesis consists of three chapters on debt markets. In chapter 1, I consider the interaction between domestic banking and growth in a DSGE model of sovereign default in order to address (i) the joint existence of sovereign debt and international reserves, and (ii) the occurrence of twin …
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Essays In Corporate Governance
<p>Corporate governance represents the collection of ways in which suppliers of finance to corporations assure themselves of getting a return on their investment. This dissertation first reviews the various corporate governance mechanisms that have been extensively studied in prior research. Then, …
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An economic optimization model for capacity expansion decisions
… The model features an optional selection of corporate level in a product tree hierarchy and a choice of several optimizing objective functions. The model assumes that intermediate product demand is directly dependent on demand for consumable products. Intermediate product demands are derived …
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Essays In Finance And Macroeconomics
… to creditors. I develop a model with long-term debt where shareholders cannot commit to not dilute creditors in the future with new debt issuances and risky investments. Creditors intervene upon violations of covenant restrictions and restructure the debt without ex ante commitment. My …
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Industrial revenue bonds: tests of capital structure theory and segmentation of the tax-exempt bond market
… return is unrelated to the tax shield on the debt. Nor is it a function of non-debt tax shields, a proxy for an interior optimal capital structure, or the risk of the issue. It is consistent, however, with the argument that lRBs provide a subsidy to issuing firms. Miller's [1977] equilibrium …
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Two essays on capital structure
… expenditures and stock price histories affect corporate debt ratios. Consistent with earlier work, we find that these variables have a substantial influence on changes in capital structure. Specifically, stock price changes and financial deficits (i.e., the amount of external capital raised) …
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Uncertainty in Debt Finance: Reconceptualising Material Adverse Change Clauses
… economically valuable and complex deals, such as corporate debt financing or mergers and acquisitions (“M&A”) deals, include special contractual risk allocation provisions, called Material Adverse Change/Effect (“MAC”) clauses. Despite increasing popularity, vague drafting and the lack of case law …
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Three Essays on The Cost of Debt Capital
… competition affects the cost of public bond debt and how credit rating adjustments influence the cost of debt and leverage of industry rivals. </p> <p>Chapter 1 explores how competitive threats affect the yield spread of corporate bonds. I find that firms that face high levels of competition …
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Market timing and cost of capital of the firm
… (2003) indicate that firm managers try to time debt markets based on term spreads or excess bond returns when choosing the maturity of new debt issues. Whether debt market timing increases firm value via a reduced cost of capital is an empirical question. I examine differences in firm value …
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Systemic Risk in Financial Networks
… realistic financial situations viz. pricing of corporate debt while accounting for network effects, asset liquidation mechanisms during fire sales, dynamic clearing and impact of contingent payments such as insurance and credit default swaps.</p>First, I present formulas for the valuation of …
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Pengaruh kebijakan dividen, struktur kepemilikan, profitabilitas, dan pertumbuhan perusahaan terhadap kebijakan hutang perusahaan non keuangan di LQ45
… one of which was the decision to use debt. Debt policy is influenced by several factors which include dividend policy, managerial ownership, institutional ownership, profitability, and growth of the company. This study aims to show empirical evidence that dividend policy, ownership …
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