Stewart C. Myers

CONCEPTUAL PROBLEMS IN THE USE OF RISK‐ADJUSTED DISCOUNT RATES*

Determinants of corporate borrowing

The Capital Structure Puzzle

Stewart C. Myers President of American Finance Association 1983 This paper's title is intended to remind you of Fischer Black's well-known note on “The Dividend Puzzle,” which h...

Principles of Corporate Finance.

Corporate financing and investment decisions when firms have information that investors do not have

The Capital Structure Puzzle

This paper contrasts the and theories of capital structure choice by corporations. In the static tradeoff theory, optimal capital structure is reached when the tax advantage...