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Corporate underinvestment in the presence of symmetric and asymmetric information

URN to cite this document:
urn:nbn:de:bvb:355-epub-256545
Hartl, Johannes
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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