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associated bankruptcy costs. When financial soundness is not perfectly observable, we show that incentive compatibility implies …
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In this paper we present a model of oligopoly and financial constraints. We study allocations which are bankruptcy …-free (BF) in the sense that no firm can drive another firm to bankruptcy without becoming bankrupt. We show how such …
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The quality of corporate governance regulations matters. If they are well designed, they can help governments achieve important policy objectives, such as higher levels of investment, increased productivity and better business sector dynamics. But for this to happen, the rules and regulations...
Persistent link: https://www.econbiz.de/10012451086