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TAXES, BANKRUPTCY COSTS AND THE EXISTENCE OF AN OPTIMAL CAPITAL STRUCTURE

1982; Wiley; Volume: 5; Issue: 3 Linguagem: Inglês

10.1111/j.1475-6803.1982.tb00302.x

1475-6803

James R. Morris,

Financial Reporting and Valuation Research

Journal of Financial ResearchVolume 5, Issue 3 p. 285-299 Article TAXES, BANKRUPTCY COSTS AND THE EXISTENCE OF AN OPTIMAL CAPITAL STRUCTURE James R. Morris, James R. Morris University of Colorado—DenverSearch for more papers by this author James R. Morris, James R. Morris University of Colorado—DenverSearch for more papers by this author First published: Fall 1982 https://doi.org/10.1111/j.1475-6803.1982.tb00302.xCitations: 4 The author wishes to thank J. C. Bosch of the University of Colorado, R. Pettit, S. Nam, and S. Hochman of the University of Houston and S. K. Chang of the University of Minnesota, Duluth, for their helpful comments. Read the full textAboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onEmailFacebookTwitterLinkedInRedditWechat References Barnea, A., Haugen, R., and Senbet, L. (1980) “A Rationale for Maturity Structure and Call Provisions in the Agency Theoretic Framework.” Journal of Finance, (December). Google Scholar Baxter, N. (1967) “Leverage, Risk of Ruin and the Cost of Capital.” Journal of Finance, (September). Google Scholar Brennan, M. and Schwartz, E. (1978) “Corporate Income Taxes, Valuation and the Problem of Optimal Capital Structure.” Journal of Business, (January). Google Scholar Chen, A. (1979) “A Theory of Corporate Bankruptcy and Optimal Capital Structure.” Chapter 13, Handbook of Financial Economics, J. L. Bicksler, ed., Amsterdam: North Holland Publishing Co. Google Scholar Federal Tax Handbook, (1980) Englewood Cliffs, N.J.: Prentice-Hall. Google Scholar Haugen, R. and Senbet, L. (1978) “The Irrelevance of Bankruptcy Costs to the Theory of Optimal Capital Structure.” Journal of Finance, (May). Google Scholar Jensen, M. and Meckling, W. (1976) “The Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure.” Journal of Financial Economics, (October). Google Scholar Kim, H. (1978) “A Mean-Variance Theory of Optimal Capital Structure and Corporate Debt Capacity.” Journal of Finance, (March). Google Scholar Kraus, A. and Litzenberger, R. (1973) “A State Preference Model of Optimal Financial Leverage.” Journal of Finance, (September). Google Scholar Lee, W. and Barker, H. (1977) “Bankruptcy Costs and the Firm's Optimal Debt Capacity: A Positive Theory of Capital Structure.” Southern Economic Journal, (April). Google Scholar Miller, M. (1977) “Debt and Taxes.” Journal of finance, (May). Google Scholar Modigliani, F. and Miller, M. (1958) “The Cost of Capital, Corporation Finance and the Theory of Investment.” American Economic Review, (June). Google Scholar Modigliani, F. and Miller, M. (1963) “Corporation Income Taxes and the Cost of Capital: A Correction.” American Economic Review, (June). Google Scholar Morris, J.(1976a) “On Corporate Debt Maturity Strategies.” Journal of Finance, (March). Google Scholar Morris, J.(1976b) “A Model for Corporate Debt Maturity Decisions.” Journal of Financial and Quantitative Analysis, (September). Google Scholar Myers, S. (1977) “Determinants of Corporate Borrowing.” Journal of Financial Economics, (November). Google Scholar Scott, J. (1976) “A Theory of Optimal Capital Structure.” Bell Journal of Economics, (Spring). Google Scholar Scott, J. (1977) “Bankruptcy, Secured Debt, and Optimal Capital Structure.” Journal of Finance, (March). Google Scholar Shrieves, R., and Stevens, D. (1979) “Bankruptcy Avoidance as a Motive for Merger.” Journal of Financial and Quantitative Analysis, (September). Google Scholar Smith, C. and Warner, J. (1979) “On Financial Contracting: An Analysis of Bond Covenants.” Journal of Financial Economics, (June). Google Scholar Stiglitz, J. (1974) “On the Irrelevance of Corporate Financial Policy.” American Economic Review, (December). Google Scholar Warner, J. (1977) “Bankruptcy Costs: Some Estimates.” Journal of Finance, (May). Google Scholar Wrightsman, D. (1978) “Tax Shield Valuation and the Capital Structure Decision.” Journal of Finance, (May). Google Scholar Citing Literature Volume5, Issue3Fall 1982Pages 285-299 ReferencesRelatedInformation