Valuation, Adverse Selection, and Market Collapses
收藏NBER2012-09-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w18358
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资源简介：
We study a market for funding real investment in which valuation creates information on which adverse selection can occur. Unlike in previous models, higher amounts of valuation are associated with lower market prices and so greater returns to valuation, and this strategic complementarity in the
提供机构：
美国国家经济研究局
创建时间：
2012-09-01
