Theories of Corporate Debt Policy: A Synthesis

Authors

  • ANDREW H. CHEN,

  • E. HAN KIM

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    • Professor of Finance, The Ohio State University, and Visiting Associate Professor of Finance, Univesity of Chicago (on leave from the Ohio State University), respectively. We are grateful for the helpful comments of Eugene Fama, Robert Hamada, Merton Miller, and Myron Scholes. Special thanks are due to John McConnell for his critical reviews of several earlier versions of the paper.

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