Schäfer, Dorothea; Werwatz, Axel; Zimmermann, Volker - 2004 - This Draft: February 2004
Financial theory creates a puzzle. Some authors argue that high-risk entrepreneurs choose debt contracts instead of … the role of risk for the choice of the method of financing. Since risk is not directly observable we use different … indicators for financial and project risk. It turns out that our data generally confirms the hypothesis that the probability that …
