... Licensed re-use rights only Borrowing Financial performance Financial leverage Secured debt Stock issuance Uncollateralized debt G31 G32 The ultimate goal of any corporation is to maximize its stockholders' interests. To this end, firms need to make judicious investments with low...

...Christian Koziol Purpose The purpose of this article is to determine the optimal use of collateral in order to maximize the borrower's wealth by reducing the interest rate payments. This analysis is to shed light on the fundamental question whether good or bad borrowers pledge more collateral...