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| Author: | Vilasuso, J. Minkler, A. |
| Title: | Agency costs, asset specificity, and the capital structure of the firm |
| Journal: | Journal of Economic Behavior and Organization
2001 : JAN, VOL. 44:1, P. 55-69 |
| Index terms: | Agency theory Capital structure of companies Financing |
| Language: | eng |
| Abstract: | A dynamic model is developed that incorporate the insights of both the agency cost and asset specificity literature about corporate finance. In general, it is found that neither can be ignored, and that the optimal capital structure minimizes agency cost and asset specificity considerations. |
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