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This paper focuses both on the competition process and the firms' liability in environmental protection and the demonstration is made by comparing two models of safety investment. The first one shows sensitive players to their environmental liability: they seek to minimize the technologies...
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competition. We find that leverage has strategic effects, but those effects are much weaker than predicted by theory. Specifically … predicted by theory. It appears that subjects recognize the strategic effects of their own debt. However, they do not (want to …
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