Investment timing, reversibility, and financing constraints
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DOI: 10.1016/j.jcorpfin.2017.12.024
Abstract: This paper examines the optimal financing and investment decisions problem of a firm that is constrained by an upper limit of debt issuance based on liquidation (collateral) value. Our model provides five new results. First,… read more here.
Keywords: timing reversibility; investment; investment timing; financing ... See more keywords