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A NOTE ON THE MARGINAL COST OF DEBT CAPITAL (1983)

Vickers, Douglas

Oxford, UK : Blackwell Publishing Ltd

Journal of business finance & accounting 10 (1983), S. 0

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ISSN: 1468-5957

Source: Blackwell Publishing Journal Backfiles 1879-2005

Topics: Economics

Notes: The firms marginal cost of debt capital was interpreted in this author's previous publications as the “full marginal cost of relaxing the money capital availability constraint'’ when the incremental money capital employed takes the form of debt capital. Account is thereby taken of the effects on financing costs of the increased risk exposure that debt financing implies for both debt and equity holders. The present paper clarifies a misconception in a recently published paper by Draper and Findlay, and exhibits the linkage between concepts relevant to the firm's fmancing decision and the general marginal analysis.

Type of Medium: Electronic Resource

URL: http://dx.doi.org/10.1111/j.1468-5957.1983.tb00460.x

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