Blar i BI Open på forfatter "Hajda, Jakub"
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Asset life, leverage, and debt maturity matching
Geelen, Thomas; Hajda, Jakub; Morellec, Erwan; Winegar, Adam Walter (Peer reviewed; Journal article, 2024)Capital ages and must eventually be replaced. We propose a theory of financing in which firms borrow to finance investment and deleverage as capital ages to have enough financial slack to finance replacement investments. ...