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| Author: | Esty, B. C. |
| Title: | Why study large projects? An introduction to research on project finance |
| Journal: | European Financial Management
2004 : JUN, VOL. 10:2, p. 213-224 |
| Index terms: | Agency theory Capital budgeting Capital structure of companies Corporate governance Project financing |
| Language: | eng |
| Abstract: | This paper attempts to explain why project finance in general and large projects in particular merit separate academic research and instruction. Shortly, there are significant opportunities to study the relationship among structural attributes (such as high leverage, contractual details and concentrated equity ownership), managerial incentives and asset values, as well as improve current practice in this rapidly growing field of finance. |
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