Risky Debt-Maturity Choice under Information Asymmetry

The traditional equilibrium models of signaling with debt-maturity require transaction costs by firms when raising new capital. In this paper, we propose a new model that has no such requirement. We demonstrate that a separating equilibrium of debt-maturity choice exists under a much more general co...

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Bibliographic Details
Main Authors: WU, Chunchi, LIU, Sheen
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2007
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Online Access:https://ink.library.smu.edu.sg/lkcsb_research/1574
https://ink.library.smu.edu.sg/context/lkcsb_research/article/2573/viewcontent/Risky_Debt_Maturity_Choice_under_Information_Asymmetry_2007.pdf
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Institution: Singapore Management University
Language: English

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