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Browsing ADEMU Working Papers Series by Subject "Debt dilution"

Browsing ADEMU Working Papers Series by Subject "Debt dilution"

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  • Jungherr, Joachim; Schott, Immo (2018-05)
    We introduce long-term debt (and a maturity choice) into a standard model of firm financing and investment. This allows us to study two distortions of investment: (1.) Debt dilution distorts firms’ choice of debt which has ...
  • Rodríguez Mendizábal, Hugo (2017-01)
    What would be the effect of imposing a 100 percent reserve requirement to depository institutions? This paper contends that reserves do not compete with loans on the asset side of bank’s balance sheets. Thus, they only ...
  • Juggler, Joachim; Schott, Immo (2016-11)
    This paper introduces a maturity choice to the standard model of firm financing and investment. Longterm debt renders the optimal firm policy time-inconsistent. Lack of commitment gives rise to debt dilution. This problem ...

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