{"id":"https://openalex.org/W2001665189","doi":"https://doi.org/10.1016/0304-405x(75)90003-3","title":"Choice over asset economies: Default risk and corporate leverage","display_name":"Choice over asset economies: Default risk and corporate leverage","publication_year":1975,"publication_date":"1975-06-01","ids":{"openalex":"https://openalex.org/W2001665189","doi":"https://doi.org/10.1016/0304-405x(75)90003-3","mag":"2001665189"},"language":"en","primary_location":{"id":"doi:10.1016/0304-405x(75)90003-3","doi":"https://doi.org/10.1016/0304-405x(75)90003-3","is_oa":false,"landing_page_url":"https://doi.org/10.1016/0304-405x(75)90003-3","pdf_url":null,"source":{"id":"https://openalex.org/S149240962","display_name":"Journal of Financial Economics","issn_l":"0304-405X","issn":["0304-405X","1879-2774"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","fnege-1-star","ft50","jufo-3","norway-2","poland-200","russia-white-list-1","utd24","vabb-shw"],"host_organization":"https://openalex.org/P4310320990","host_organization_name":"Elsevier BV","host_organization_lineage":["https://openalex.org/P4310320990"],"host_organization_lineage_names":["Elsevier BV"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Financial Economics","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5086338768","display_name":"Frank Milne","orcid":"https://orcid.org/0000-0002-6975-4818","observed_orcids":["https://orcid.org/0000-0002-6975-4818"]},"institutions":[{"id":"https://openalex.org/I118347636","display_name":"Australian National University","ror":"https://ror.org/019wvm592","country_code":"AU","type":"education","lineage":["https://openalex.org/I118347636"]}],"countries":["AU"],"is_corresponding":true,"raw_author_name":"Frank Milne","raw_affiliation_strings":["Australian National University, Canberra, A.C.T., Australia","Australian National Univ., Canberra, A.C.T., Australia"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Australian National University, Canberra, A.C.T., Australia","institution_ids":["https://openalex.org/I118347636"]},{"raw_affiliation_string":"Australian National Univ., Canberra, A.C.T., Australia","institution_ids":["https://openalex.org/I118347636"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5086338768"],"corresponding_institution_ids":["https://openalex.org/I118347636"],"apc_list":{"value":4740,"currency":"USD","value_usd":4740},"apc_paid":null,"fwci":8.0347,"has_fulltext":false,"cited_by_count":24,"citation_normalized_percentile":{"value":0.96855037,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":88,"max":93},"biblio":{"volume":"2","issue":"2","first_page":"165","last_page":"185"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9243000149726868,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9243000149726868,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12137","display_name":"Economic theories and models","score":0.019500000402331352,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10067","display_name":"Stochastic processes and financial applications","score":0.006599999964237213,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/corporate-leverage","display_name":"corporate leverage","score":0.7429999709129333},{"id":"https://openalex.org/keywords/default-risk","display_name":"default risk","score":0.9559999704360962},{"id":"https://openalex.org/keywords/modigliani-miller-theorem","display_name":"Modigliani-Miller theorem","score":0.9240000247955322},{"id":"https://openalex.org/keywords/asset-creation","display_name":"asset creation","score":0.8489999771118164},{"id":"https://openalex.org/keywords/capital-structure","display_name":"capital structure","score":0.5669999718666077}],"concepts":[{"id":"https://openalex.org/C153083717","wikidata":"https://www.wikidata.org/wiki/Q6535263","display_name":"Leverage (statistics)","level":2,"score":0.8568448424339294},{"id":"https://openalex.org/C76178495","wikidata":"https://www.wikidata.org/wiki/Q4808784","display_name":"Asset (computer security)","level":2,"score":0.6033065915107727},{"id":"https://openalex.org/C2777496998","wikidata":"https://www.wikidata.org/wiki/Q1536587","display_name":"Miller","level":2,"score":0.5754838585853577},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5414121747016907},{"id":"https://openalex.org/C181236170","wikidata":"https://www.wikidata.org/wiki/Q848354","display_name":"Capital asset pricing model","level":2,"score":0.4905073046684265},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.4833807349205017},{"id":"https://openalex.org/C169029255","wikidata":"https://www.wikidata.org/wiki/Q4867577","display_name":"Basis risk","level":3,"score":0.4152403771877289},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.34938597679138184},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.3360641598701477},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.3201534152030945},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.10994511842727661},{"id":"https://openalex.org/C38652104","wikidata":"https://www.wikidata.org/wiki/Q3510521","display_name":"Computer security","level":1,"score":0.0},{"id":"https://openalex.org/C18903297","wikidata":"https://www.wikidata.org/wiki/Q7150","display_name":"Ecology","level":1,"score":0.0},{"id":"https://openalex.org/C119857082","wikidata":"https://www.wikidata.org/wiki/Q2539","display_name":"Machine learning","level":1,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1016/0304-405x(75)90003-3","doi":"https://doi.org/10.1016/0304-405x(75)90003-3","is_oa":false,"landing_page_url":"https://doi.org/10.1016/0304-405x(75)90003-3","pdf_url":null,"source":{"id":"https://openalex.org/S149240962","display_name":"Journal of Financial Economics","issn_l":"0304-405X","issn":["0304-405X","1879-2774"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","fnege-1-star","ft50","jufo-3","norway-2","poland-200","russia-white-list-1","utd24","vabb-shw"],"host_organization":"https://openalex.org/P4310320990","host_organization_name":"Elsevier BV","host_organization_lineage":["https://openalex.org/P4310320990"],"host_organization_lineage_names":["Elsevier BV"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Financial Economics","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:eee:jfinec:v:2:y:1975:i:2:p:165-185","doi":null,"is_oa":false,"landing_page_url":"http://www.sciencedirect.com/science/article/pii/0304-405X(75)90003-3","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":26,"referenced_works":["https://openalex.org/W1531882916","https://openalex.org/W1549338976","https://openalex.org/W1558769955","https://openalex.org/W1562821284","https://openalex.org/W1975586046","https://openalex.org/W1975954757","https://openalex.org/W1984525082","https://openalex.org/W2025611071","https://openalex.org/W2029056003","https://openalex.org/W2040484445","https://openalex.org/W2048819793","https://openalex.org/W2051750842","https://openalex.org/W2074928461","https://openalex.org/W2075911810","https://openalex.org/W2083148578","https://openalex.org/W2122838389","https://openalex.org/W2124597406","https://openalex.org/W2142105585","https://openalex.org/W2331156937","https://openalex.org/W3125762740","https://openalex.org/W4239488419","https://openalex.org/W4248018638","https://openalex.org/W4248582191","https://openalex.org/W4299454264","https://openalex.org/W4300806592","https://openalex.org/W6633625691"],"related_works":["https://openalex.org/W1520453232","https://openalex.org/W1536789624","https://openalex.org/W1557725578","https://openalex.org/W2394020335","https://openalex.org/W1495525144","https://openalex.org/W7101059290","https://openalex.org/W7097452912","https://openalex.org/W7099091237","https://openalex.org/W1531882916","https://openalex.org/W4236344912"],"abstract_inverted_index":null,"counts_by_year":[{"year":2022,"cited_by_count":1},{"year":2020,"cited_by_count":1},{"year":2013,"cited_by_count":1}],"updated_date":"2026-11-08T12:12:28.789561","created_date":"2016-06-24T00:00:00"}
