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| Tekijä: | Childs, P.D. Mauer, D.C. Ott, S.H. |
| Otsikko: | Interactions of corporate financing and investment decisions: the effects of agency conflicts |
| Lehti: | Journal of Financial Economics
2005 : JUNE, VOL. 76:3, p. 667-690 |
| Asiasana: | Agency theory Capital structure of companies Corporate finance |
| Kieli: | eng |
| Tiivistelmä: | This article investigates interactions between flexible financing and investment decisions in a model with shareholder-bondholder conflicts over investment policy. The writers find that financial flexibility encourages the choice of short-term debt thereby substantially reducing the agency costs of under- and overinvestment. |
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