PEROTTI, Enrico C.; THADDEN, Ernst-Ludwig VON - Départment d'économétrie et d'économie politique … - 2001
This paper studies optimal financial contracts and product market competition under a strategic transparency decision …, the dominant lender can influence corporate transparency. More transparency about a firm's competitive position has both … strategic advantages and disadvantages: in general, transparency results in higher variability of profits and output. Thus …