restructuring of the companies them- selves, not just the debt they hold. With regard to the general refinanc- ing occurring in the industry, Miller says: “The debt has…
NBER WORKING PAPER SERIES A UNIFIED THEORY OF TOBIN'S Q, CORPORATE INVESTMENT, FINANCING, AND RISK MANAGEMENT Patrick Bolton Hui Chen Neng Wang Working Paper 14845 http://www.nber.org/papers/w14845…