haku: @author Biais, B. / yhteensä: 11
viite: 7 / 11
| Tekijä: | Biais, B. Casamatta, C. |
| Otsikko: | Optimal leverage and aggregate investment. |
| Lehti: | Journal of Finance
1999 : AUG, VOL. 54:4, p. 1291-1323 |
| Asiasana: | Gearing Investment appraisal Risk analysis |
| Kieli: | eng |
| Tiivistelmä: | The authors analyze the optimal financing of investment projects when managers must exert unobservable effort and can also switch to less profitable riskier ventures. Optimal financial contracts can be implemented by a combination of debt and equity when the risk-shifting problem is the most severe while stock options are also needed when the effort problem is the most severe. |
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