The DOI matches its Crossref record; 1 of the 1 references it cites were found in a registry or an index.
Financial Policy and Reputation for Product Quality
Abstract
The effect of financial policy on a firm’s incentives to maintain its reputation for producing a high-quality product is analyzed. It is demonstrated that in certain situations debt will reduce a firm’s ability to credibly offer high-quality products and, as a consequence, will reduce its value. However, for firms with assets that have high salvage values in liquidation, debt may increase their ability to credibly offer high-quality products and, therefore, increase their values.
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Citations
Cites
The Role of Market Forces in Assuring Contractual Performance
Klein, B., & Leffler, K. B. (1981) · Journal of Political Economy · doi:10.1086/260996 · Cited by 3,653
Cited by
Capital structure decisions: Which factors are reliably important?
Frank, M. Z., & Goyal, V. K. (2009) · Financial Management · doi:10.1111/j.1755-053x.2009.01026.x · Cited by 2,859
Stakeholder Theory: The State of the Art
Parmar, B. L., Freeman, R. E., Harrison, J. S., Wicks, A. C., Purnell, L., & de Colle, S. (2010) · Academy of Management Annals · doi:10.5465/19416520.2010.495581 · Cited by 2,755
Financial Distress and Corporate Performance
OPLER, T. C., & TITMAN, S. (1994) · The Journal of Finance · doi:10.1111/j.1540-6261.1994.tb00086.x · Cited by 1,664
Self-citationBae, K.-H., El Ghoul, S., Guedhami, O., Kwok, C. C. Y., & Zheng, Y. (2019) · Journal of Banking & Finance · doi:10.1016/j.jbankfin.2018.11.007 · Cited by 207
Metadata
- Authors
- Maksimovic, V., & Titman, S.
- Venue
- Review of Financial Studies
- Publisher
- Oxford University Press (OUP)
- Published
- 1991-01
- Volume
- 4
- Issue
- 1
- Pages
- 175-200
- ISSN
- 0893-9454 (ISSN-L)
- 1465-7368
- OpenAlex
- W2154332049
- Cited by
- 533
- References
- 1
- FWCI
- 17.89
- Type
- journal article
- Language
- en
- Open access
- closed
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- Maksimovic, V., & Titman, S. (1991). Financial Policy and Reputation for Product Quality. Review of Financial Studies. https://doi.org/10.1093/rfs/4.1.175
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
