Real Options in a Dynamic Agency Model, with Applications to Financial Development, IPOs, and Business Risk
收藏NBER2007-11-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w13584
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资源简介：
We study investment options in a dynamic agency model. Moral hazard creates an option to wait and agency conflicts affect the timing of investment. The model sheds light, theoretically and quantitatively, on the evolution of firms' dynamics, in particular the decline of the failure rate and the
提供机构：
美国国家经济研究局
创建时间：
2007-11-01
