Por favor utiliza este link para citar o compartir este documento: http://repositoriodigital.academica.mx/jspui/handle/987654321/425767
Título: Risk aversion and debt maturity structure
Palabras clave: Economía y Finanzas
risk aversion
debt maturity structure
adverse selection
Editorial: Centro de Investigación y Docencia Económicas, A.C.
Descripción: We study the relationship of risk aversion and debt maturity structure. In a model in which adverse selection in financial markets creates a role for the use of short-term debt, we allow the possibility of borrowers being risk-averse. This creates a trade-off between reduced expected financing costs and higher risk and allows for the study of the effect of risk aversion on optimal maturity structure. We prove that, as risk aversion increases, so does the percentage of debt that is long-term.
Other Identifiers: http://www.redalyc.org/articulo.oa?id=32312204
Aparece en las Colecciones:Economía Mexicana. Nueva Época

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