Determinants of corporate borrowing
Integrity signals
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Private equity financing has many of the same problems of excessive investor power suppressing entrepreneurial initiative as monopoly banking does.
“In principle, firms could utilize private equity financing, but it has many of the same problems of excessive investor power suppressing entrepreneurial initiative as monopoly banking does (Myers 1977, Burkart, Gromb, andPanunzi 1997).”
From Investor protection and corporate governance (2000) · cites this paper as Myers 1977
Cites
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- Authors
- Myers, S. C.
- Affiliations
- Massachusetts Institute of Technology (US)
- Corresponding author
- Myers, Stewart C.
- Venue
- Journal of Financial Economics
- Publisher
- Elsevier BV
- Published
- 1977-11
- Volume
- 5
- Issue
- 2
- Pages
- 147-175
- ISSN
- 0304-405X (ISSN-L)
- OpenAlex
- W2000578291
- Cited by
- 13,169
- References
- 30
- Citations by year
- 2026: 400 · 2025: 532 · 2024: 420 · 2023: 516 · 2022: 477 · 2021: 598 · 2020: 569 · 2019: 525 · 2018: 506 · 2017: 606 · 2016: 610 · 2015: 577 · 2014: 602 · 2013: 585 · 2012: 587
- FWCI
- 92.69
- Type
- journal article
- Language
- en
- Open access
- closed
- Locations
- Journal of Financial Economics (publishedVersion)
- Topics
- Social Sciences › Business, Management and Accounting › Accounting › Corporate Finance and Governance
- Social Sciences › Economics, Econometrics and Finance › Finance › Capital Investment and Risk Analysis
- Social Sciences › Economics, Econometrics and Finance › Finance › Stochastic processes and financial applications
- Keywords
- corporate borrowing, real options, growth opportunities, risky debt, capital structure, asset-liability matching, debt maturity, firm value
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