Many financial claims specify fixed maximum payments, varying seniority, and absolute
priority for more senior investors. These features are motivated in a model where a firm's …

Die ersten Abschnitte des Lehrbuches sind für den Anfänger gedacht: Es wird in die
gängigen Finanzierungsformen eingeführt. Die" Klassischen" Theorien von der Irrelevanz …

B Corps are firms certified by the non‐profit B Lab for pursuing both economic and non‐
economic goals. Whether B Corps realize a higher financial performance has met mixed …

This paper provides an overview of the main results of the literature on pricing convertible
bonds. It covers simple convertible bonds which are non-callable and can be converted only …

The potential conflicts of interest between managers, stockholders and debtholders
influence capital structure, corporate governance activities and investment policies, which, in …

Leveraged buyouts have often been funded in ways which appear to reduce the risk and
cost of financial distress. Leveraged buyout financing methods include the use of specialist …

This article shows how structured financing can be used to solve the asset substitution
problem in a dynamic setting. Structuring induces the firm's owner to optimally choose the …

In a static setting, Green (1984) shows that a warrant contract can eliminate the asset
substitution problem created by debt. In contrast, we show that when the firm chooses …

El método contable de cargo y descargo, un procedimiento de naturaleza más jurídica que
contable, se empleaba cuando la actividad económica de la organización era confiada a un …

Convertible debt eliminates asset substitution in a one-period setting (Green, 1984). But
convertible debt terms are usually set before the asset substitution opportunity. This allows …