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Capital Structure and Asset Prices: Some Effects of Bankruptcy Procedures

โœ Scribed by Francois, Pascal; Morellec, Erwan


Book ID
123880991
Publisher
University of Chicago Press
Year
2004
Tongue
English
Weight
195 KB
Volume
77
Category
Article
ISSN
0021-9398

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## Abstract We test the underinvestment hypothesis (the soโ€called Furubotnโ€“Pejovich effect) from the specialized literature on coโ€ops by comparing the shadow price of capital and the dual capacity utilization index for a panel of Italian cooperative and conventional firms, 1996โ€“2003. The results do