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choices are too small to explain financing decisions. We also show that by adding agency conflicts in the model and giving the …
Persistent link: https://www.econbiz.de/10003970297
competition has first order effects on the cash holdings and financing decisions of constrained firms, in ways consistent with our …
Persistent link: https://www.econbiz.de/10010258537
-theoretic dynamic agency model of firms from observed financing and investment choices. In the model, an optimal contract resolves the … that in order to rationalize observed firm financing and investment policies, the agency conflict between investors and …
Persistent link: https://www.econbiz.de/10009571505