Human Capital, Bankruptcy and Capital Structure
收藏NBER2007-04-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w13014
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资源简介：
We derive a firm's optimal capital structure and managerial compensation contract when employees are averse to bearing their own human capital risk, while equity holders can diversify this risk away. In the presence of corporate taxes, our model delivers optimal debt levels consistent with those
提供机构：
美国国家经济研究局
创建时间：
2007-04-01
