Continental European countries used to finance defence firms with public money. In the last few years, many governments aimed at implementing a hands-off policy towards the defence sector, which implies a gradual transition from public to private funding. This paper argues that the absence of long term relationships between defence firms and private investors may block this change.
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Paper provided by ESSEC Research Center, ESSEC Business School in its series ESSEC Working Papers with number
DR 05008.
Find related papers by JEL classification: D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Capital and Ownership Structure L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General
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