Detailed Information
Cited 0 time in 
Cited 0 time in 
Cited 0 time in
Metadata Downloads
Informational role of investment and liquidation values
Full metadata record
| DC Field | Value | Language |
|---|---|---|
| dc.contributor.author | Doh, Hyun Soo | - |
| dc.contributor.author | Wang, Yiyao | - |
| dc.date.accessioned | 2024-06-12T01:30:21Z | - |
| dc.date.available | 2024-06-12T01:30:21Z | - |
| dc.date.issued | 2024-05 | - |
| dc.identifier.issn | 1229-988X | - |
| dc.identifier.issn | 2713-6647 | - |
| dc.identifier.uri | https://scholarworks.bwise.kr/erica/handle/2021.sw.erica/119310 | - |
| dc.description.abstract | We develop a credit-risk model to study the informational role of investment in an economy susceptible to large liquidity shocks. Firms' investment decisions carry information about their asset quality, thereby mitigating informational frictions when firms enter bankruptcy. An increase in aggregate investment can reduce the informational value of investment, depressing firms' recovery values. Therefore, policies boosting investment can decrease debt and firm values by reducing the informational value of investment. The presence of debt overhang may enhance firm value by making firms' investment decisions more informative. We present suggestive empirical evidence consistent with model predictions on the relation between firms' investments and recovery rates. © 2024, Hyun Soo Doh and Yiyao Wang. | - |
| dc.format.extent | 26 | - |
| dc.language | 영어 | - |
| dc.language.iso | ENG | - |
| dc.publisher | Emerald Publishing | - |
| dc.title | Informational role of investment and liquidation values | - |
| dc.type | Article | - |
| dc.publisher.location | 대한민국 | - |
| dc.identifier.doi | 10.1108/JDQS-02-2024-0007 | - |
| dc.identifier.scopusid | 2-s2.0-85193844314 | - |
| dc.identifier.bibliographicCitation | Journal of Derivatives and Quantitative Studies, pp 1 - 26 | - |
| dc.citation.title | Journal of Derivatives and Quantitative Studies | - |
| dc.citation.startPage | 1 | - |
| dc.citation.endPage | 26 | - |
| dc.type.docType | Article in press | - |
| dc.description.isOpenAccess | Y | - |
| dc.description.journalRegisteredClass | scopus | - |
| dc.description.journalRegisteredClass | kci | - |
| dc.subject.keywordAuthor | Debt overhang | - |
| dc.subject.keywordAuthor | Information asymmetry | - |
| dc.subject.keywordAuthor | Investment | - |
| dc.subject.keywordAuthor | Liquidation values | - |
| dc.identifier.url | https://www.emerald.com/insight/content/doi/10.1108/JDQS-02-2024-0007/full/html | - |
- Files in This Item
- Go to Link
Items in ScholarWorks are protected by copyright, with all rights reserved, unless otherwise indicated.
Related Researcher
- Doh, Hyun Soo
- COLLEGE OF BUSINESS AND ECONOMICS (DIVISION OF BUSINESS ADMINISTRATION)