Feedback and Contagion through Distressed Competition
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Firms tend to compete more aggressively when facing financial distress. This intensified competition reduces profit margins, pushing them further into distress and adversely affecting their industry peers. To study such feedback and contagion effects, we incorporate strategic competition in a
企业在遭遇财务困境（financial distress）时往往会采取更为激进的竞争策略；此种加剧的竞争将反过来压缩企业利润率，使其进一步陷入财务困境，同时对其行业同行产生不利影响。为研究此类反馈与传染效应，我们将战略竞争（strategic competition）纳入
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美国国家经济研究局创建时间：
2023-01-01
