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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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