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ON FINANCIAL ARCHITECTURE: LEVERAGE, MATURITY, AND PRIORITY

ON FINANCIAL ARCHITECTURE: LEVERAGE, MATURITY, AND PRIORITY Footnotes 1 Michael J. Barclay , Clifford W. Smith , Jr. and Ross L. Watts ( 1995 ) “ The Determinants of Corporate Leverage and Dividend Policies ,” Journal of Applied Corporate Finance 7 : 4 , 4 – 19 . This article draws heavily on both that article, as well as two other recently published studies by Barclay and Smith: “ The Maturity Structure of Corporate Debt ,” Journal of Finance , Vol. 50 , No. 2 ( 1995 ) ; and “ The Priority Structure of Corporate Liabilities ,” Journal of Finance , Vol. 50 , No. 3 ( 1995 ). 2 David W. Blackwell and David Kidwell , “ An Investigation of Cost Differences Between Public Sales and Private Placements of Debt ”, Journal of Financial Economics 22 ( 1988 ). 3 P.S. Rose, Money and Capital Markets (Irwin: Homewood, IL, 1992). 4 As we also pointed our in last article, however, book debt‐to‐capital ratios also contain useful information about corporate debt policy in the following sense: To the extent book values provide accurate assessments of the tangibility of assets, they too serve as useful indicators of corporate debt capacity. 5 The reason these two http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Applied Corporate Finance Wiley

ON FINANCIAL ARCHITECTURE: LEVERAGE, MATURITY, AND PRIORITY

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References (7)

Publisher
Wiley
Copyright
Copyright © 1996 Wiley Subscription Services, Inc., A Wiley Company
ISSN
1078-1196
eISSN
1745-6622
DOI
10.1111/j.1745-6622.1996.tb00679.x
Publisher site
See Article on Publisher Site

Abstract

Footnotes 1 Michael J. Barclay , Clifford W. Smith , Jr. and Ross L. Watts ( 1995 ) “ The Determinants of Corporate Leverage and Dividend Policies ,” Journal of Applied Corporate Finance 7 : 4 , 4 – 19 . This article draws heavily on both that article, as well as two other recently published studies by Barclay and Smith: “ The Maturity Structure of Corporate Debt ,” Journal of Finance , Vol. 50 , No. 2 ( 1995 ) ; and “ The Priority Structure of Corporate Liabilities ,” Journal of Finance , Vol. 50 , No. 3 ( 1995 ). 2 David W. Blackwell and David Kidwell , “ An Investigation of Cost Differences Between Public Sales and Private Placements of Debt ”, Journal of Financial Economics 22 ( 1988 ). 3 P.S. Rose, Money and Capital Markets (Irwin: Homewood, IL, 1992). 4 As we also pointed our in last article, however, book debt‐to‐capital ratios also contain useful information about corporate debt policy in the following sense: To the extent book values provide accurate assessments of the tangibility of assets, they too serve as useful indicators of corporate debt capacity. 5 The reason these two

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Journal of Applied Corporate Finance – Wiley

Published: Jan 1, 1996

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