Le choix du type et de la maturité de la dette par les firmes françaises
Mehdi Nekhili ()
Revue Finance Contrôle Stratégie, 1999, vol. 2, issue 3, 179-206
This paper focuses on banks advantages, compared to bondholders, mainly by the induction of a better reliability for management. Hereafter, a panel of 84 French firms behavior in leverage is modelized. Our findings suggest that the quality of corporate management is not strictly related to the best ways to borrow money. Who is the investor, for which kind of investment, are the main determinants of type and maturity of debt French companies choose.
Keywords: financial intermediation; bank loan; bonds; maturity of debt; asymmetric information; moral hazard. (search for similar items in EconPapers)
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Working Paper: Le choix du type et de la maturité de la dette par les firmes françaises (1999)
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Persistent link: https://EconPapers.repec.org/RePEc:dij:revfcs:v:2:y:1999:i:q3:p:179-206
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