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Firm Risk, Default Costs and Optimal Capital Structure
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The article was published on 1981-01-01 and is currently open access. It has received 1 citations till now. The article focuses on the topics: Economic capital & Cost of capital.read more
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Explanations for the Instability of Equity Beta: Risk-Free Rate Changes and Leverage Effects
TL;DR: In this paper, the authors focus on two factors from the joint option pricing model/Capital asset pricing model framework, i.e., leverage and unexpected changes in the risk-free rate, which are hypothesized to influence the instability of equity beta across firms and over time.