Eaton, Tim V.; Nichols, Craig; Wahlen, James Michael; … - In: Journal of risk and financial management : JRFM 14 (2021) 4, pp. 1-33
What incentives do managers face that might give rise to inefficient investments in leases? If managers make inefficient investments in leases, what economic consequences arise for those managers and their firms? We develop a model of expected investments in leased assets and use the residuals...
