Essec\Faculty\Model\Contribution {#2216
  #_index: "academ_contributions"
  #_id: "2913"
  #_source: array:26 [
    "id" => "2913"
    "slug" => "write-down-bonds-and-capital-and-debt-structures"
    "yearMonth" => "2015-12"
    "year" => "2015"
    "title" => "Write-Down Bonds and Capital and Debt Structures"
    "description" => "ATTAOUI, S. et PONCET, P. (2015). Write-Down Bonds and Capital and Debt Structures. <i>Journal of Corporate Finance</i>, 35, pp. 97-119."
    "authors" => array:2 [
      0 => array:3 [
        "name" => "PONCET Patrice"
        "bid" => "B00000430"
        "slug" => "poncet-patrice"
      ]
      1 => array:1 [
        "name" => "ATTAOUI S."
      ]
    ]
    "ouvrage" => ""
    "keywords" => array:5 [
      0 => "Dette write-down"
      1 => "Évènement de crédit"
      2 => "Spread de crédit"
      3 => "Structure de la dette"
      4 => "Structure du capital"
    ]
    "updatedAt" => "2021-02-02 16:16:18"
    "publicationUrl" => "https://doi.org/10.1016/j.jcorpfin.2015.08.009"
    "publicationInfo" => array:3 [
      "pages" => "97-119"
      "volume" => "35"
      "number" => null
    ]
    "type" => array:2 [
      "fr" => "Articles"
      "en" => "Journal articles"
    ]
    "support_type" => array:2 [
      "fr" => "Revue scientifique"
      "en" => "Scientific journal"
    ]
    "countries" => array:2 [
      "fr" => null
      "en" => null
    ]
    "abstract" => array:2 [
      "fr" => "Nous analysons les structures optimales de capital et de dettes d'une firme sujette au risque de défaut quand la dette est composée d'une dette senior et d'une dette junior de type partiellement effaçable. La firme augmente son levier optimal grâce à la dette junior, et voit son spread de crédit considérablement diminuer sur sa dette senior."
      "en" => "We analyze a defaultable firm’s optimal capital and debt structures when its debt includes senior straight and Write-Down (WD) bonds. The optimal capital structure and the optimal straight/WD debt mix are jointly determined along with the optimal level of debt reduction. The firm increases its leverage by swapping both equity and straight debt for WD bonds. The credit spread on the straight debt is shown to be considerably lower when the firm’s capital structure also includes WD bonds, for a given global leverage."
    ]
    "authors_fields" => array:2 [
      "fr" => "Finance"
      "en" => "Finance"
    ]
    "indexedAt" => "2024-11-15T07:21:49.000Z"
    "docTitle" => "Write-Down Bonds and Capital and Debt Structures"
    "docSurtitle" => "Journal articles"
    "authorNames" => "<a href="/cv/poncet-patrice">PONCET Patrice</a>, ATTAOUI S."
    "docDescription" => "<span class="document-property-authors">PONCET Patrice, ATTAOUI S.</span><br><span class="document-property-authors_fields">Finance</span> | <span class="document-property-year">2015</span>"
    "keywordList" => "<a href="#">Dette write-down</a>, <a href="#">Évènement de crédit</a>, <a href="#">Spread de crédit</a>, <a href="#">Structure de la dette</a>, <a href="#">Structure du capital</a>"
    "docPreview" => "<b>Write-Down Bonds and Capital and Debt Structures</b><br><span>2015-12 | Journal articles </span>"
    "docType" => "research"
    "publicationLink" => "<a href="https://doi.org/10.1016/j.jcorpfin.2015.08.009" target="_blank">Write-Down Bonds and Capital and Debt Structures</a>"
  ]
  +lang: "en"
  +"_type": "_doc"
  +"_score": 8.947243
  +"parent": null
}