IDEAS home Printed from
   My bibliography  Save this paper

A General Equilibrium Corporate Finance Theorem for Incomplete Markets: A Special Case



This paper considers corporate equilibria in a two period endogenized asset general equilibrium model for a class of profit maximizing objective functions of the firms introduced in Stiefenhofer (2009). It shows by means of a particular case that for a fixed financial policy, every extensive form stock market equilibrium can be translated into a reduced form equilibrium. This suggests determinateness of corporate equilibria for varying financial parameters. A change in the firm's financial policy changes the production set available to it in the next period, hence real effects.

Suggested Citation

  • P Stiefenhofer, 2010. "A General Equilibrium Corporate Finance Theorem for Incomplete Markets: A Special Case," Discussion Papers 10/11, Department of Economics, University of York.
  • Handle: RePEc:yor:yorken:10/11

    Download full text from publisher

    File URL:
    File Function: Main text
    Download Restriction: no

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:yor:yorken:10/11. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Paul Hodgson). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.