Borrowing Behavior Of The Proprietary Firm: Do Some Risk-Averse Expected Utility Maximizers Plunge?
AbstractWhen a proprietor's liability is limited, borrowing behavior for an expected utility maximizer may vary widely. Proprietors with little to lose may rationally choose very large debt levels while others may choose to finance with 100% equity. This article presents a theory to explain these widely observed variations in behavior.
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Bibliographic InfoArticle provided by Western Agricultural Economics Association in its journal Western Journal of Agricultural Economics.
Volume (Year): 16 (1991)
Issue (Month): 02 (December)
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- Robison, Lindon J. & Barry, Peter J. & Burghardt, William G., 1987. "Borrowing Behavior Under Financial Stress By The Proprietary Firm: A Theoretical Analysis," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 12(02), December.
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