Modelling the Relation between Managers, Shadow Cost of External Finance and Corporate Investment
This paper provides a theoretical framework for studying the impact of self-interested managers on the level of corporate investment. I extend the standard neoclassical model of firm value maximization to incorporate the effect of misaligned managers on corporate investment <i>via</i> a...
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| Format: | Article |
| Language: | English |
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MDPI AG
2019-11-01
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| Series: | Mathematics |
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| Online Access: | https://www.mdpi.com/2227-7390/7/11/1050 |