in The Review of Financial Studies
September 2015; p ublished online February 2015 .
Journal Article. Subjects: Welfare Economics; Bankruptcy; General Equilibrium and Disequilibrium; Corporate Governance. 12737 words.
We study a dynamic general equilibrium model in which firms choose their investment level and capital structure, trading off the tax advantages of debt against the risk of costly default....
in Industrial and Corporate Change
June 2015; p ublished online May 2015 .
Journal Article. Subjects: General Equilibrium and Disequilibrium; Market Structure, Firm Strategy, and Market Performance. 10258 words.
This study explores the reciprocal relationship between the nature and duration of competition, and innovation outcomes. We propose that the perpetually driven, reciprocal sequence of...