Legal-system arbitrage and parent – subsidiary capital structures

This paper develops a new theory of the capital structure of parent–subsidiary organizations based on legal-system arbitrage: The capital structure of parent–subsidiary organizations is chosen to minimize the agency costs generated by selective renegotiation of claims written on the component legal...

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Detalhes bibliográficos
Principais autores: Banerjee, S, Noe, T
Formato: Journal article
Publicado em: INFORMS 2016