Debt Valuation, Renegotiation, and Optimal Dividend Policy

By H. Fan, Suresh Sundaresan. 2000

419 citations recorded by the source corpus.

Subfields: Accounting, Finance, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/645897e0d5808fcf540cf62a031396a2f122280f

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

1. Erwan Morellec
2. N. Schürhoff
3. B. Nikolov
4. Philip Valta
5. Amiyatosh Purnanandam
6. Sebastian Gryglewicz
7. Tao Shu
8. G. Favara

In Finance

1. Erwan Morellec
2. Philip Valta
3. Amiyatosh Purnanandam
4. N. Schürhoff
5. B. Nikolov
6. Sudheer Chava
7. G. Favara
8. Enrique J. Schroth

In Strategy and Management

1. Erwan Morellec
2. N. Schürhoff
3. B. Nikolov
4. Philip Valta
5. Sebastian Gryglewicz
6. G. Favara
7. Enrique J. Schroth
8. Tao Shu

Citations in the corpus

• Is Default Risk Negatively Related to Stock Returns (2010, background): “Building on the theoretical foundation of Fan and Sundaresan (2000), Garlappi, Shu, and Yan (2008) argue that potential violation of Absolute Priority Rule (APR) can help explain the negative relation between default risk and stock returns.”
• Default Risk, Shareholder Advantage, and Stock Returns* (2008, positive): “In Section 3, we explicitly derive the relationship between returns and default probability in the context of the Fan and Sundaresan (2000) model, and in Section 4 we test its empirical implications in the cross section.”
• Debt Enforcement, Investment, and Risk Taking Across Countries (2013, methodology): “The model synthesizes the theories of underinvestment (Myers, 1977), risk-shifting (Jensen and Meckling, 1976), and debt enforcement in default (Fan and Sundaresan, 2000).”
• Structural Models of Corporate Bond Pricing: An Empirical Analysis (2004, neutral): “See also Anderson, Sundaresan, and Tychon (1996), Huang (1997), Acharya et al. (1999), Fan and Sundaresan (2000), and Acharya and Carpenter (2002).”
• A Binomial Lattice Method for Pricing Corporate Debt and Modeling Chapter 11 Proceedings (2007, methodology): “Our numerical method can be used to extend models such as Leland (1994) and FM (2004) to finite maturity debt, discrete coupon payments, or to solve new models such as BCS (2007). Some other authors use numerical techniques in the context of corporate debt pricing.”
• Horses and Rabbits? Trade-Off Theory and Optimal Capital Structure (2005, background): “See Francois and Morellec (2004) and Fan and Sundaresan (2000) for models with renegotiation.”
• Strategic default and equity risk across countries (2012, methodology): “…things, the determinants of corporate bond spreads [Anderson and Sundaresan (1996)], the rm s optimal payout policies and reorganization boundaries [Fan and Sundaresan (2000)], or the optimal mix of short and long-term debt [Berglöf and von Thadden (1994); Hackbarth, Hennessy, and Leland (2007)].”
• A theory of corporate financial decisions with liquidity and solvency concerns (2011, positive): “As in numerous contingent claims models of capital structure, a closed-form solution is available under the simplifying assumption that debt is issued only once at the initial date (Leland, 1994; Leland and Toft, 1996; Fan and Sundaresan, 2000; Duffie and Lando, 2001; Miao, 2005; Hackbarth, Hennessy”