An overwhelmingly large number of research studies in corporate Finance span the basis formed by chiefly three corporate policies - Financial policy (leverage), dividend policy, and investment policy. The two most oft-cited frictions, agency issues and asymmetric information, add complexities to...

I examine the relationship between the availability of internal funds and the corporate decisions of firms with tangible assets. In the presence of frictions, a wedge exists between the costs of internal and external funds. Firms with collateral, such as real estate investment trusts (REITs),...