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: | , , |
---|---|
Other Authors: | |
Format: | Article |
Language: | en_US |
Published: |
Oxford University Press
2011
|
Online Access: | http://hdl.handle.net/1721.1/65557 https://orcid.org/0000-0001-9605-641X |