Reputation acquisition in imperfect financial markets
2016
Asano, Koji
This paper incorporates financial market imperfections into the Diamond (1989) model where reputation concerns limit managers’ excessive risk-taking. We show that the reputational discipline collapses because of an increase in pledgeability and a decline in interest rates over time.
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书目信息
出版者
Elsevier B.V.
其它主题
Risk-taking; Low interest rates; G01; G11; Pledgeability; Interest (finance); Reputation
语言
英语
类型
Journal Article; Text
2024-02-27
MODS