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We investigate the cost of capital in a model with an agency conflict between inside managers and outside shareholders. Inside ownership reflects the classic tradeoff between incentives and risk diversification, and the severity of agency costs depends on a parameter representing investor...
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In this paper we perform a meta-analysis on empirical estimates of the impact between investment and uncertainty. Since … investment research. For example, not including factor prices in investment models may seriously affect the model outco! mes … can explain to a large extent why empirical estimates of the investment-uncertainty relationship differ. …
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Himmelberg, Hubbard, and Love combine the agency theory of the firm with risk diversification incentives for insiders …
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The authors combine the agency theory of the firm with risk diversification incentives for insiders. Principal …
Persistent link: https://www.econbiz.de/10012559596