Academic journal article NBER Reporter

Understanding the Capital Structures of Non-Financial and Financial Corporations

Academic journal article NBER Reporter

Understanding the Capital Structures of Non-Financial and Financial Corporations

Article excerpt

NBER Research Associates Viral Acharya of NYU's Stern School of Business, Heitor Almeida of the University of Illinois at Urbana-Champaign, and Malcolm Baker of the Harvard Business School organized an NBER conference on "Understanding the Capital Structures of Non-Financial and Financial Corporations" which took place on April 5 and 6, 2013. They selected these papers to discuss:

* Alexander Ljungqvist, New York University and NBER, and Florian Heider, European Central Bank, "As Certain as Debt and Taxes: Estimating the Tax Sensitivity of Leverage from Exogenous State Tax Changes" (NBER Working Paper No. 18263)

* Jaewon Choi and Dirk Hackbarth, University of Illinois, Urbana-Champaign, and Josef Zechner, Vienna University of Economics and Business, "Granularity of Corporate Debt"

* Arvind Krishnamurthy and Annette Vissing-Jorgensen, Northwestern University and NBER, "Short-term Debt and Financial Crises: What We Can Learn from U.S. Treasury Supply"

* Isil Erel, Ohio State University; Stewart Myers, MIT and NBER; and James Read, The Brattle Group, "Capital Allocation"

* Franklin Allen, University of Pennsylvania and NBER, and Elena Carletti, European University Institute, "Deposits and Bank Capital Structure"

* Konstantin Milbradt, MIT, and Martin Oehmke, Columbia University, "Maturity Rationing and Collective Short-Termism"

* Anat Admati and Paul Pfleiderer, Stanford University; Peter DeMarzo, Stanford University and NBER; and Martin Hellwig, Max Planck Institute, "Debt Overhang and Capital Regulation"

* Shekhar Aiyar, International Monetary Fund; Charles Calomiris, Columbia University and NBER; John Hooley and Yevgeniya Korniyenko, Bank of England; and Tomasz Wieladek, London Business School, "The International Transmission of Bank Capital Requirements: Evidence from the UK"

* Andres Almazan, University of Texas at Austin; Adolfo de Motta, McGill University; and Sheridan Titman, University of Texas, Austin and NBER, "Debt, Labor Markets, and the Creation and Destruction of Firms"

* John Graham, Duke University and NBER; Mark Leary, Washington University in St. …

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