Cantale, Salvatore; Lukin, Dmitry - In: Journal of entrepreneurial finance : JEF ; official … 16 (2012) 1, pp. 1-28
consider the financing problem of an entrepreneur who has access to two investment projects and needs to raise external … financing to undertake these projects in the presence of asymmetric information. The entrepreneur has private information about … types of informed traders and each type knows the true value of a different project, the entrepreneur will always choose to …