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This paper investigates the capital structure of a large sample of U.S. private firms from 2004 to 2013. There is a considerable heterogeneity in private firm capital structure not only in terms of the level of leverage but also with regard to the issuance of specific debt instruments. Leverage, debt type usage, and debt specialization are dynamic and strongly related to observable firm characteristics largely in support of contract theory. Unobservable firm and industry characteristics are strong determinants of leverage levels and debt specialization. Macro credit conditions are not related to private firm leverage but are strong determinants of the degree to which firms diversify their debt capital structures.

Company programs to hire military veterans and Olympic athletes represent a convergence of responsibilities, interests, and opportunities for human resources (HR) and public relations (PR) staffs. These employment initiatives often reflect corporate social responsibility (CSR) values as well as business goals. This chapter explores why companies create special hiring programs, how they are integrated into an HR function, and the role of PR in communicating about the program as part of a socially responsible mission. Though distinctive in their roles – HR in managing corporate staffing and PR in shaping a company’s image and promoting its brands – these two functions can jointly amplify the value and impact of special hiring programs.