Debt Market: Supermarket Or Bazaar?

Authors

  • Michael A. Limitovskiy Graduate School of Financial Management, Academy of National Economy under the Government of Russian Federation, Moscow, Russia

Abstract

This article represents the reply on the article named Ibragimov R. G. «Effect of Nonmarket Debt Financing on the Cost of Capital and Firm Value» published in Vol. 5, No. 1 of the Russian Management Journal where the model of subsidized debt financing was proposed. Here the author argues against this model.

Keywords:

subsidized debt, company valuation

Downloads

Download data is not yet available.

References

ЛИТЕРАТУРА НА РУССКОМ ЯЗЫКЕ

Ибрагимов Р. Г. 2007. Влияние нерыночного долгового финансирования на стоимость капитала и ценность компании. Российский журнал менеджмента 5 (1): 67–84.

Лимитовский М. А. 2006. Модель влияния структуры капитала на ценность компании, основанная на реалистических допущениях. Корпоративный финансовый менеджмент (1): 36–48.


REFERENCES IN LATIN ALPHABET

Hamada R. 1972. The effect of the firm’s capital structure on the systematic risk of common stocks. Journal of Finance 27 (2): 435–452.

Modigliani F., Miller M. 1963. Corporate income taxes and the cost of capital: A correction. American Economic Review 53 (3): 433–443.

Shapiro A. C. 2005. Capital Budgeting and Investment Analysis. Pearson Prentice Hall.

Tham J., Velez-Pareja I. 2005. With Subsidized Debt How Do We Adjust the WACC? Social Science Research Network, Paper No. 680921.

Российский журнал менеджмента Т. 6, №1, 2008

Downloads

Published

2008-03-31

How to Cite

Limitovskiy, M. A. (2008). Debt Market: Supermarket Or Bazaar?. Russian Management Journal, 6(1), 53–56. Retrieved from https://rjm.spbu.ru/article/view/463

Issue

Vol. 6 No. 1 (2008)

Section

New Research

License

Articles of the Russian Management Journal are open access distributed under the terms of the License Agreement with Saint Petersburg State University, which permits to the authors unrestricted distribution and self-archiving free of charge.