| Author: | Haugen, R. A. Senbet, L. W. |
| Title: | Bankruptcy and agency costs : their significance to the theory of optimal capital structure. |
| Journal: | Journal of Financial and Quantitative Analysis
1988 : MAR, VOL. 23:1, p. 27-38 |
| Index terms: | BANKRUPTCY AGENCIES CAPITAL STRUCTURE OF COMPANIES |
| Language: | eng |
| Abstract: | A review of potential impediments to a pure market solution to agency problems related to bankruptcy and agency costs, the risk incentive problem, and the theory of optimal capital structure. The significance of bankruptcy costs with unimpeded arbitrage, the free rider problem, bankruptcy and liquidation. Bankruptcy and asymmetric information. An impediment to arbitrage for the risk incentive agency costs. |
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