. Adjustment and agency costs are included in the neoclassical theory of optimal financial and investment decisions for firms. In … order to model the possible occurrence of agency costs of debt, and credit constraints, the behavior of banks is reviewed in … adjustment and agency costs, but not by credit constraints. Moreover, it is also shown that financial decisions are affected by …

In a framework with an upstream monopoly and a downstream duopoly, we analyze the impact of convex costs on the … downstream level. In contrast to the case of constant marginal costs, vertical integration does not imply complete market …