Optimal leverage for the utility maximizing firm
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Cited by (2)
Managerial risk incentives and a firm's financing policy
2019, Journal of Banking and FinanceCitation Excerpt :More recently, Shue and Townsend (2017) use multi-year compensation plans to control for endogeneity and find a positive relation between option grants and leverage. The most relevant theoretical studies for this paper are Bardsley (1995); Berk et al. (2010), and Bhagat et al. (2011). Bardsley (1995) uses a two-period model and shows that there is a negative relation between risk aversion and optimal leverage.
Investment as an adaptation response to water scarcity
2012, Water Policy Reform: Lessons in Sustainability from the Murray-Darling Basin
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I would like to thank an anonymous reviewer for very helpful comments.
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