| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w29310 |
| 来源ID | Working Paper 29310 |
| Dynamic Strategic Corporate Finance: A Tug of War with Financial Frictions | |
| Ulrich Doraszelski; João F. Gomes; Felix Nockher | |
| 发表日期 | 2021-09-27 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | Access to capital markets plays a key role for the evolution of an industry over time. We develop a benchmark theoretical setting that integrates core corporate finance insights about the impact of financial frictions on investment with those from industrial organization on dynamic competition and industry evolution under perfect capital markets. Using state of the art computational tools to systematically detect and evaluate multiple equilibria and to thoroughly explore the parameter space of our model, we show how, depending on key industry characteristics such as market size, financial frictions impact firms' pricing and investment strategies and the degree of industry concentration. |
| 主题 | Financial Economics ; Corporate Finance ; Industrial Organization ; Market Structure and Firm Performance |
| URL | https://www.nber.org/papers/w29310 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/586983 |
| 推荐引用方式 GB/T 7714 | Ulrich Doraszelski,João F. Gomes,Felix Nockher. Dynamic Strategic Corporate Finance: A Tug of War with Financial Frictions. 2021. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w29310.pdf（1158KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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