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Persistent link: https://www.econbiz.de/10001549574
An attempt is made to estimate a state space model of investment and borrowing in a Bayesian framework and extract the unobservable agency cost of Japanese firms by firm size. Our estimates of the agency cost exhibited a declining trend in the late 80s and then switched to an increasing trend in...
Persistent link: https://www.econbiz.de/10010332217
Persistent link: https://www.econbiz.de/10008796541
Persistent link: https://www.econbiz.de/10011380128
An attempt is made to estimate a state space model of investment and borrowing in a Bayesian framework and extract the unobservable agency cost of Japanese firms by firm size. Our estimates of the agency cost exhibited a declining trend in the late 80s and then switched to an increasing trend in...
Persistent link: https://www.econbiz.de/10001751324