Measuring Investment Distortions when Risk-Averse Managers Decide Whether to Undertake Risky Projects
收藏NBER2002-01-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w8763
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资源简介：
This paper examines distortions in corporate investment decisions when a new project changes firm risk. It presents a dynamic model in which a self-interested, risk-averse manager makes investment decisions at a levered firm. The model, calibrated using data from public firms, is used to estimate
提供机构：
美国国家经济研究局
创建时间：
2002-01-01
