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Discussant for the paper: Financing Investment with Long-Term Debt and Uncertainty Shocks

 

 

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Event Title: 22nd Annual Utah Winter Finance Conference, February 9-11, 2012
Presentation Title: Discussant for the paper: Financing Investment with Long-Term Debt and Uncertainty Shocks
Presenters, Panelists and Guests:

Toni Whited (Rochester)

Description:

DISCUSSION: Financing Investment with Long-Term Debt and Uncertainty Shocks

ORIGINAL PAPER ABSTRACT:
We extend the quantitative corporate finance framework of Hennessy and Whited (2005) by introducing long-term defaultable debt and stochastic volatility. These features lead to significantly lower leverage and higher default probabilities, and a stronger negative correlation of investment with credit spreads, consistent with the data.

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Host Organization: David Eccles School of Business, Department of Finance, The University of Utah
 
Original Presentation Date (USA): Saturday, 11 February 2012
Presentation Start Time: 08:00 am MST | 15:00 GMT
Duration: 14min : 18sec
 
For More Information: Conference Schedule of Events
David Eccles School of Business, Department of Finance, The University of Utah
Presentation Host:

Conference Organizers:
Avner Kalay, Professor, Dept. of Finance, The University of Utah
James Schallheim , Professor, Dept. of Finance, The University of Utah

 
Copyright: 2012 Utah Winter Finance Conference, Dept. of Finance, The University of Utah
Use Restrictions: Unless specifically exempted, the reproduction, re-purposing, or re-distribution of materials found, contained, or provided via this program event is prohibited. Prior written consent is required for use of any images or material.
Primary Language: English