WebРабота по теме: Finch - Corporate Insolvency Law - Perspectives and Principles. Глава: Bibliography. Предмет: Гражданское ... WebConsider an entrepreneur who needs to raise funds from an investor, but cannot commit not to withdraw his human capital from the project. The possibility of a default or quit puts an …

A Theory of Debt Based on the Inalienability of Human Capital

WebJan 1, 2013 · This chapter provides a broad survey of game-theoretic research bearing on financial decision making, beginning with an assessment of pre-game-theoretic financial models and results – including asset pricing models, market efficiency, and classic results in corporate finance. WebApr 2, 2009 · We argue that a fundamental cause of inalienability is the inalienability of human capital, which makes people unable to commit not to repudiate a contract. In this sense, inalienability... latin hard to find

BIBLIOGRAPHY - studfile.net

WebThis paper explores the hypothesis that the rise in intangible capital is a fundamental driver of the secular trend in US corporate cash holdings over the last decades. Using a new measure,we show that intangible capital is the most important firm-level determinant of corporate cash holdings. WebA risk-averse entrepreneur with access to a profitable venture needs to raise funds from investors. She cannot indefinitely commit her human capital to the venture, which limits … WebDownloadable! This paper provides a theory of debt and hedging based on human capital. We distinguish human capital from physical capital in two ways: (1) human capital is inalienable and can exercise a one-sided option to leave the firm, and (2) human capital is not perfectly replaceable. We show that a firm may reach the first best solution while … latin hail and farewell