Entrepreneurial Finance and Non-diversifiable Risk
We develop a dynamic incomplete-markets model of entrepreneurial firms, and demonstrate the implications of nondiversifiable risks for entrepreneurs' interdependent consumption, portfolio allocation, financing, investment, and business exit decisions. We characterize the optimal capital structu...
| Main Authors: | , , |
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| Other Authors: | |
| Format: | Article |
| Language: | en_US |
| Published: |
Oxford University Press
2011
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| Online Access: | http://hdl.handle.net/1721.1/65557 https://orcid.org/0000-0001-9605-641X |