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Corporate underinvestment in the presence of symmetric and asymmetric information

Hartl, Johannes (2012) Corporate underinvestment in the presence of symmetric and asymmetric information. PhD, Universität Regensburg.

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Date of publication of this fulltext: 07 Sep 2012 06:24

Abstract (English)

Underinvestment and Asymmetric Information: Underinvestment arises when a firm passes up a profitable investment opportunity. The first part of the dissertation deals with corporate underinvestment in the presence of asymmetric information. Specifically, the seminal model by Myers and Majluf (1984) is presented in detail. In this three-period model, corporations have the opportunity to undertake ...

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Translation of the abstract (German)

Unterinvestition und Asymmetrische Information: Unterinvestition bedeutet, dass eine Firma eine profitable Investitionsmöglichkeit nicht durchführt. Der erste Teil der Dissertation befasst sich mit Unterinvestition bei asymmetrischer Informationsverteilung. Im Speziellen wird detailliert das berühmte Modell von Myers und Majluf (1984) präsentiert. In dem Drei-Perioden-Modell haben Unternehmen ...

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Item type:Thesis of the University of Regensburg (PhD)
Date:7 September 2012
Referee:Prof. Dr. Lutz Arnold
Date of exam:14 August 2012
Institutions:Business, Economics and Information Systems > Institut für Volkswirtschaftslehre und Ökonometrie > Lehrstuhl für Theoretische Volkswirtschaft (Prof. Dr. Lutz Arnold)
Keywords:Corporate underinvestment, the underinvestment problem, corporate insurance, safety loadings, casualty loss, bond covenants
Dewey Decimal Classification:300 Social sciences > 330 Economics
Status:Published
Refereed:Yes, this version has been refereed
Created at the University of Regensburg:Yes
Item ID:25654
Owner only: item control page

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