The Term Structure of Lease Rates with Endogenous Default Triggers and Tenant Capital Structure: Theory and Evidence

NCU Institutional Repository > 管理學院 > 財務金融學系 > 期刊論文 > Item 987654321/51727

jsp.display-item.identifier=請使用永久網址來引用或連結此文件: http://ir.lib.ncu.edu.tw/handle/987654321/51727

题名:	The Term Structure of Lease Rates with Endogenous Default Triggers and Tenant Capital Structure: Theory and Evidence
作者:	Agarwal,S;Ambrose,BW;Huang,HM;Yildirim,Y
贡献者:	財務金融學系
关键词:	CORPORATE-DEBT;CREDIT RISK;VALUATION;CONTRACTS;DETERMINANTS;SUBSTITUTES;BANKRUPTCY;TAXES;MODEL
日期:	2011
上传时间:	2012-03-27 19:03:40 (UTC+8)
出版者:	國立中央大學
摘要:	This paper focuses on the defaultable lease rate term structure with endogenous default. We combine the competitive lease market argument proposed by Grenadier (1996) and the endogenous default structural model proposed by Leland and Toft (1996) to examine the interaction between the lessee's capital structure and the equilibrium lease rate. Under this framework, determining the lease rate is a simultaneous equation problem that captures the trade-off between debt and lease financing. Using data on 2,482 real estate lease transactions, we empirically confirm the predictions derived from the numerical analysis of the model.
關聯:	JOURNAL OF FINANCIAL AND QUANTITATIVE ANALYSIS
显示于类别:	[財務金融學系] 期刊論文

文件中的档案:

档案	描述	大小	格式	浏览次数
index.html		0Kb	HTML	668	检视/开启

在NCUIR中所有的数据项都受到原著作权保护.

社群 sharing