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Ownership structure, horizontal agency costs and the performance of high-tech entrepreneurial firms

โœ Scribed by Colombo, Massimo G.; Croce, Annalisa; Murtinu, Samuele


Book ID
121566983
Publisher
Springer US
Year
2013
Tongue
English
Weight
336 KB
Volume
42
Category
Article
ISSN
0921-898X

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We develop a dynamic model that incorporates the insights of both the agency cost and asset specificity literature about corporate finance. In general, we find that neither can be ignored, and that the optimal capital structure minimizes agency cost and asset specificity considerations. A key findin