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We address the question of how lending market competition, measured by the bargaining power of banks, affects the … agency costs of debt finance. It is shown that intensified lending market competition will lead to lower lending rates and … lending market competition will reduce the agency cost of debt financing. Hence, our analysis does not lend support to the …
Persistent link: https://www.econbiz.de/10009781549
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We address the question of how lending market competition, measured by the bargaining power of banks, affects the … agency costs of debt finance. It is shown that intensified lending market competition will lead to lower lending rates and … lending market competition will reduce the agency cost of debt financing. Hence, our analysis does not lend support to the …
Persistent link: https://www.econbiz.de/10001476530
Persistent link: https://www.econbiz.de/10002345958
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According to the existing literature, capital taxes should not be imposed in the presence of optimal profit taxation in either unionised or competititive labour markets. We show that this conclusion does not hold for an economy with both competitive and unionised sectors, where the competitive...
Persistent link: https://www.econbiz.de/10001732737
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equilibrium unemployment. The relationship between the long-run unemployment and the intensity of product market competition is …
Persistent link: https://www.econbiz.de/10002521703