Titlebook: Dynamical Corporate Finance; An Equilibrium Appro Umberto Sagliaschi,Roberto Savona Book 2021 The Editor(s) (if applicable) and The Author(

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https://doi.org/10.1007/978-3-662-08690-2f investment adjustment costs. Namely, the larger ., the wider is the spread between the return on invested capital (RoIC), which is the ratio between operating earnings and the total capital stock, and the firm’s WACC, holding everything else constant.

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https://doi.org/10.1007/978-3-662-08690-2t be taken into account. To clarify this point, consider again the case of the Leland model, in which shareholders commit to never issue additional debt in the future. Absent legal constraints preventing shareholders to adjust debt in the future, will they maintain their commitment?

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Dynamic Capital Structure without Commitment,t be taken into account. To clarify this point, consider again the case of the Leland model, in which shareholders commit to never issue additional debt in the future. Absent legal constraints preventing shareholders to adjust debt in the future, will they maintain their commitment?

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Ziel und Aufgabe eines Heizsystemserature. We offer a new setting in which practitioners and researchers are provided with new tools to anticipate changes in capital structure and setting prices for firm’s debt and equity accordingly.

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Introduction,erature. We offer a new setting in which practitioners and researchers are provided with new tools to anticipate changes in capital structure and setting prices for firm’s debt and equity accordingly.

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