A Dynamic Theory of Optimal Capital Structure and Executive Compensation
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We put forward a theory of the optimal capital structure of the firm based on Jensen's (1986) hypothesis that a firm's choice of capital structure is determined by a trade-off between agency costs and monitoring costs. We model this tradeoff dynamically. We assume that early on in the production
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美国国家经济研究局创建时间：
2005-01-01
