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| Author: | Cestone, G. White, L. |
| Title: | Anticompetitive financial contracting: the design of financial claims |
| Journal: | Journal of Finance
2003 : OCT, VOL. 58:5, p. 2109-2141 |
| Index terms: | Financial markets Product marketing Credit markets Competitiveness |
| Language: | eng |
| Abstract: | The authors present the first model where entry deterrence takes place through financial rather than product-market channels. In existing models, a firm's choice of financial instruments deters entry by affecting the credit market behaviour of investors towards entrant firms. They find that to deter entry, the claims held on incumbent firms should be sufficiently risky, that is, equity. |
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