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Optimal Property Rights in Financial Contracting

Kenneth Ayotte and Patrick Bolton.

in The Review of Financial Studies

October 2011; p ublished online August 2011 .

Journal Article. Subjects: Property Law; Contract Law; Corporate Governance; Bankruptcy. 16338 words.

This article adopts a definition of property rights from legal scholarship: A property right (in contrast to a contractual right) is enforceable, not only against the parties to a contract,...

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