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Investment Irreversibility and Finance Constraints

✍ Scribed by Pasquale Scaramozzino

Book ID
108554531
Publisher
John Wiley and Sons
Year
1997
Tongue
English
Weight
164 KB
Volume
59
Category
Article
ISSN
0140-5543

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Investment and dividends under irreversi
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Research ΓΏnds that ΓΏrms' investment and dividend policies are distorted by irreversibility and ΓΏnance constraints. Existing work considers the impact of each such friction in isolation. Using a real options framework, I explain how the investment and payout decisions interact over time when irrevers