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Optimization of capital structure in real estate enterprises
1. | Institute of Real Estate Research, Tsinghua University, Beijing, 100084, China, China |
References:
[1] |
R. Anderson and A. Carverhill, Corporate liquidity and capital structure,, Review of financial studies, 25 (2012), 797.
doi: 10.1093/rfs/hhr103. |
[2] |
G. Andrade and S. N. Kaplan, How costly is financial (not economic) distress? Evidence from highly leveraged transactions that became distressed,, The Journal of Finance, 53 (1998), 1443.
doi: 10.3386/w6145. |
[3] |
E. Barucci and L. Del Viva, Dynamic capital structure and the contingent capital option,, Annals of Finance, 9 (2013), 337.
doi: 10.1007/s10436-012-0188-z. |
[4] |
F. Black and M. Scholes, The pricing of options and corporate liabilities,, The journal of political economy, 81 (1973), 637.
doi: 10.1086/260062. |
[5] |
N. Chen and S. G. Kou, Credit spreads, optimal capital structure, and implied volatility with endogenous default and jump risk,, Mathematical Finance, 19 (2009), 343.
doi: 10.1111/j.1467-9965.2009.00375.x. |
[6] |
Y. Chu, Optimal capital structure, bargaining, and the supplier market structure,, Journal of Financial Economics, 106 (2012), 411.
doi: 10.1016/j.jfineco.2012.05.010. |
[7] |
D. O. Cook and T. Tang, Macroeconomic conditions and capital structure adjustment speed,, Journal of Corporate Finance, 16 (2010), 73.
doi: 10.1016/j.jcorpfin.2009.02.003. |
[8] |
M. J. Flannery and K. P. Rangan, Partial adjustment toward target capital structures,, Journal of Financial Economics, 79 (2006), 469.
doi: 10.1016/j.jfineco.2005.03.004. |
[9] |
R. A. Haugen, and L. W. Senbet, Bankruptcy and agency costs: Their significance to the theory of optimal capital structure,, Journal of Financial and Quantitative Analysis, 23 (1988), 27.
doi: 10.2307/2331022. |
[10] |
W. Jin, W. Zhang, B. Zhou and X. Xiong, Dynamic capital structure of the real estate companies in China,, The theory and practice of finance and economics, 168 (2010), 67. Google Scholar |
[11] |
D. C. Mauer and S. Sarkar, Real options, agency conflicts, and optimal capital structure,, Journal of Banking & Finance, 29 (2005), 1405.
doi: 10.1016/j.jbankfin.2004.05.036. |
[12] |
E. Morellec, B. Nikolov and N. Schürhoff, Corporate governance and capital structure dynamics,, The Journal of Finance, 67 (2012), 803.
doi: 10.2139/ssrn.1106164. |
[13] |
Ö. Öztekin and M. J. Flannery, Institutional determinants of capital structure adjustment speeds,, Journal of Financial Economics, 103 (2012), 88. Google Scholar |
[14] |
A. A. Robichek and S. C. Myers, Problems in the theory of optimal capital structure,, Journal of Financial and Quantitative Analysis, 1 (1966), 1.
doi: 10.2307/2329989. |
[15] |
B. Yang, Dynamic capital structure with heterogeneous beliefs and market timing,, Journal of Corporate Finance, 22 (2013), 254.
doi: 10.2139/ssrn.1732870. |
[16] |
Z. Zhang, The value of debt guarantee,, Research on financial and economic issues, 187 (1999), 22. Google Scholar |
[17] |
Z. Zhang and S. Xiao, Tax shield, bankruptcy cost and the optimal capital structure,, Accounting Research, (2009), 47. Google Scholar |
show all references
References:
[1] |
R. Anderson and A. Carverhill, Corporate liquidity and capital structure,, Review of financial studies, 25 (2012), 797.
doi: 10.1093/rfs/hhr103. |
[2] |
G. Andrade and S. N. Kaplan, How costly is financial (not economic) distress? Evidence from highly leveraged transactions that became distressed,, The Journal of Finance, 53 (1998), 1443.
doi: 10.3386/w6145. |
[3] |
E. Barucci and L. Del Viva, Dynamic capital structure and the contingent capital option,, Annals of Finance, 9 (2013), 337.
doi: 10.1007/s10436-012-0188-z. |
[4] |
F. Black and M. Scholes, The pricing of options and corporate liabilities,, The journal of political economy, 81 (1973), 637.
doi: 10.1086/260062. |
[5] |
N. Chen and S. G. Kou, Credit spreads, optimal capital structure, and implied volatility with endogenous default and jump risk,, Mathematical Finance, 19 (2009), 343.
doi: 10.1111/j.1467-9965.2009.00375.x. |
[6] |
Y. Chu, Optimal capital structure, bargaining, and the supplier market structure,, Journal of Financial Economics, 106 (2012), 411.
doi: 10.1016/j.jfineco.2012.05.010. |
[7] |
D. O. Cook and T. Tang, Macroeconomic conditions and capital structure adjustment speed,, Journal of Corporate Finance, 16 (2010), 73.
doi: 10.1016/j.jcorpfin.2009.02.003. |
[8] |
M. J. Flannery and K. P. Rangan, Partial adjustment toward target capital structures,, Journal of Financial Economics, 79 (2006), 469.
doi: 10.1016/j.jfineco.2005.03.004. |
[9] |
R. A. Haugen, and L. W. Senbet, Bankruptcy and agency costs: Their significance to the theory of optimal capital structure,, Journal of Financial and Quantitative Analysis, 23 (1988), 27.
doi: 10.2307/2331022. |
[10] |
W. Jin, W. Zhang, B. Zhou and X. Xiong, Dynamic capital structure of the real estate companies in China,, The theory and practice of finance and economics, 168 (2010), 67. Google Scholar |
[11] |
D. C. Mauer and S. Sarkar, Real options, agency conflicts, and optimal capital structure,, Journal of Banking & Finance, 29 (2005), 1405.
doi: 10.1016/j.jbankfin.2004.05.036. |
[12] |
E. Morellec, B. Nikolov and N. Schürhoff, Corporate governance and capital structure dynamics,, The Journal of Finance, 67 (2012), 803.
doi: 10.2139/ssrn.1106164. |
[13] |
Ö. Öztekin and M. J. Flannery, Institutional determinants of capital structure adjustment speeds,, Journal of Financial Economics, 103 (2012), 88. Google Scholar |
[14] |
A. A. Robichek and S. C. Myers, Problems in the theory of optimal capital structure,, Journal of Financial and Quantitative Analysis, 1 (1966), 1.
doi: 10.2307/2329989. |
[15] |
B. Yang, Dynamic capital structure with heterogeneous beliefs and market timing,, Journal of Corporate Finance, 22 (2013), 254.
doi: 10.2139/ssrn.1732870. |
[16] |
Z. Zhang, The value of debt guarantee,, Research on financial and economic issues, 187 (1999), 22. Google Scholar |
[17] |
Z. Zhang and S. Xiao, Tax shield, bankruptcy cost and the optimal capital structure,, Accounting Research, (2009), 47. Google Scholar |
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