Risk aversion and debt maturity structure
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| Formato: | Artículo científico |
| Lenguaje: | en |
| Publicado: |
Centro de Investigación y Docencia Económicas, A.C.
2003
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| _version_ | 1876430268102868992 |
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| author | Blanca Cecilia García |
| author_facet | Blanca Cecilia García |
| contents | Risk aversion and debt maturity structure Blanca Cecilia García Jorge Fernández Ruiz Economía y Finanzas risk aversion adverse selection debt maturity structure We study the relationship of risk aversion and debt maturitystructure. In a model in which adverse selection in financial marketscreates a role for the use of short-term debt, we allow the possibility ofborrowers being risk-averse. This creates a trade-off between reducedexpected financing costs and higher risk and allows for the study of theeffect of risk aversion on optimal maturity structure. We prove that, asrisk aversion increases, so does the percentage of debt that is long-term. 2003 artículo científico 1665-2045 https://www.redalyc.org/articulo.oa?id=32312204 en http://www.redalyc.org/revista.oa?id=323 Economía Mexicana. Nueva Época application/pdf Centro de Investigación y Docencia Económicas, A.C. Economía Mexicana. Nueva Época (México) Num.2 Vol.XII |
| format | Artículo científico |
| id | redalyc_32312204 |
| institution | Redalyc |
| language | en |
| publishDate | 2003 |
| publisher | Centro de Investigación y Docencia Económicas, A.C. |
| spellingShingle | Risk aversion and debt maturity structure Blanca Cecilia García Economía y Finanzas risk aversion adverse selection debt maturity structure Risk aversion and debt maturity structure Blanca Cecilia García Jorge Fernández Ruiz Economía y Finanzas risk aversion adverse selection debt maturity structure We study the relationship of risk aversion and debt maturitystructure. In a model in which adverse selection in financial marketscreates a role for the use of short-term debt, we allow the possibility ofborrowers being risk-averse. This creates a trade-off between reducedexpected financing costs and higher risk and allows for the study of theeffect of risk aversion on optimal maturity structure. We prove that, asrisk aversion increases, so does the percentage of debt that is long-term. 2003 artículo científico 1665-2045 https://www.redalyc.org/articulo.oa?id=32312204 en http://www.redalyc.org/revista.oa?id=323 Economía Mexicana. Nueva Época application/pdf Centro de Investigación y Docencia Económicas, A.C. Economía Mexicana. Nueva Época (México) Num.2 Vol.XII |
| title | Risk aversion and debt maturity structure |
| topic | Economía y Finanzas risk aversion adverse selection debt maturity structure |
| url | https://www.redalyc.org/articulo.oa?id=32312204 |