haku: @author Maksimovic, V. / yhteensä: 17
viite: 9 / 17
| Tekijä: | Maksimovic, V. Stomper, A. Zechner, J. |
| Otsikko: | Capital structure, information acquisition and investment decisions in an industry framework |
| Lehti: | European Finance Review
1998 : VOL. 2:3, p. 251-271 |
| Asiasana: | FINANCE CAPITAL INVESTMENT |
| Kieli: | eng |
| Tiivistelmä: | This paper analyzes the relationship between a firm's capital structure and its information acquisition prior to capital budgeting decisions. It is found that low-growth industries can sustain a large number of levered firms. In these industries, leverage is negatively related to a firm's incentive to acquire information during the capital budgeting process. In contrast, high-growth industries only sustain a small number of levered firms. In these industries, levered firms acquire more information than all-equity financed firms. |
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