Bailouts, the Incentive to Manage Risk, and Financial Crises
收藏NBER2009-06-01 更新2025-01-04 收录
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https://www.nber.org/papers/w15058
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A firm's termination leads to bankruptcy costs. This may create an incentive for outside stakeholders or the firm's debtholders to bail out the firm as bankruptcy looms. Because of this implicit guarantee, firm shareholders have an incentive to increase volatility in order to exploit the implicit
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美国国家经济研究局创建时间：
2009-06-01
