The Investment Funds System Reconsidered
This paper studies the effects of the Swedish investment funds system on the cost of capital. It is shown that the incentive effects critically depend on which "regime" it expects to be in in the future. For quite reasonable assumptions, investment funds system releases turn out to have much less impact on the incentive to invest than conventionally assumed. Copyright 1989 by The editors of the Scandinavian Journal of Economics.
(This abstract was borrowed from another version of this item.)
|Date of creation:||Dec 1986|
|Date of revision:||Jan 1988|
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