Showing 1 - 10 of 58
In this paper we study the relationship between firm age, the use of external finance and new investment decisions, in …, suggesting that greater financial development and a stronger investment climate offers young firms greater access to bank … firms that report a need for credit, but did not apply for a loan, have the lowest incidence and amount of investment. Our …
Persistent link: https://www.econbiz.de/10013115696
We investigate the cost of capital in a model with an agency conflict between inside managers and outside shareholders. Inside ownership reflects the classic tradeoff between incentives and risk diversification, and the severity of agency costs depends on a parameter representing investor...
Persistent link: https://www.econbiz.de/10011623466
We investigate the cost of capital in a model with an agency conflict between inside managers and outside shareholders. Inside ownership reflects the classic tradeoff between incentives and risk diversification, and the severity of agency costs depends on a parameter representing investor...
Persistent link: https://www.econbiz.de/10011506547
factors influencing the incidence of credit constraints and investment behavior. To measure the incidence of credit … number of agents making investments and their investment to capital ratios …
Persistent link: https://www.econbiz.de/10011394308
Himmelberg, Hubbard, and Love combine the agency theory of the firm with risk diversification incentives for insiders. Principal-agent problems between insiders and outsiders force insiders to retain a larger share in their firm than they would under a perfect risk diversification strategy. The...
Persistent link: https://www.econbiz.de/10010523707
Persistent link: https://www.econbiz.de/10001670031
Persistent link: https://www.econbiz.de/10001672876
Persistent link: https://www.econbiz.de/10003916324
Persistent link: https://www.econbiz.de/10008990941
factors influencing the incidence of credit constraints and investment behavior. To measure the incidence of credit … number of agents making investments and their investment to capital ratios …
Persistent link: https://www.econbiz.de/10013009189