Corporate Financing and Investment Decisions When Firms Have InformationThat Investors Do Not Have
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This paper considers a firm that must issue common stock to raise cash to undertake a valuable investment opportunity. Management is assumed to know more about the firm's value than potential investors. Investors interpret the firm's actions rationally. An equilibrium model of the issue-invest
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美国国家经济研究局创建时间：
1984-07-01
