Robert S. Goldstein
University of Minnesota
88 Papers
1.4K Citations
Robert S. Goldstein is an academic researcher from University of Minnesota. The author has contributed to research in topics: Debt & Capital structure. The author has an hindex of 33, co-authored 83 publications. Previous affiliations of Robert S. Goldstein include Washington University in St. Louis & Ohio State University.
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Papers
The Determinants of Credit Spread Changes
TL;DR: In this article, the determinants of credit spread changes were investigated using dealer's quotes and transactions prices on straight industrial bonds, and the residuals from this regression are highly cross-correlated, and principal components analysis implies they are mostly driven by a single common factor.
Do Credit Spreads Reflect Stationary Leverage Ratios
TL;DR: This paper proposed a structural model of default with stochastic interest rates that captures the mean reversion of leverage ratios, which is more consistent with empirical findings than predictions of extant models.
992
An EBIT-based model of dynamic capital structure
TL;DR: In this paper, a model of dynamic capital structure is proposed, where the optimal strategy is implemented over an arbitrarily large number of restructuring periods, a scaling feature inherent in the framework permits simple closed-form expressions to be obtained for equity and debt prices.
An EBIT-Based Model of Dynamic Capital Structure
TL;DR: In this paper, the authors take the claim to future EBIT as the underlying state variable, and assume that it is invariant to changes in capital structure, and treat all claims to EBIT (equity, debt, government) in a consistent fashion.
The Determinants of Credit Spread Changes
TL;DR: In this article, the determinants of credit spread changes were investigated using straight industrial bonds with quoted prices, and the residuals from this first-pass regression were highly cross-correlated and principal components analysis strongly suggests they are driven by a single common factor.
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