Browsing by Author "Schott, Immo"

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  • Jungherr, Joachim; Schott, Immo (2018-05)
    We introduce long-term debt (and a maturity choice) into a standard model of firm financing and investment. This allows us to study two distortions of investment: (1.) Debt dilution distorts firms’ choice of debt which has ...
  • Juggler, Joachim; Schott, Immo (2016-11)
    This paper introduces a maturity choice to the standard model of firm financing and investment. Longterm debt renders the optimal firm policy time-inconsistent. Lack of commitment gives rise to debt dilution. This problem ...