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dc.contributor.authorNenov, Plamen T.
dc.date.accessioned2017-12-18T14:21:23Z
dc.date.available2017-12-18T14:21:23Z
dc.date.created2016-12-20T14:29:06Z
dc.date.issued2017
dc.identifier.citationThe Review of financial studies. 2017, 30(11), 3888-3920nb_NO
dc.identifier.issn0893-9454
dc.identifier.issn1465-7368
dc.identifier.urihttp://hdl.handle.net/11250/2472589
dc.descriptionThe accepted and peer reviewed manuscript to the articlenb_NO
dc.description.abstractI study asset price amplification in an asymmetric information model. Entrepreneurs issue debt to finance investments in a physical asset. They have private information about their success probabilities. For a given debt level, higher asset prices require entrepreneurs to invest more of their own funds. This makes bad entrepreneurs more reluctant to mimic good ones; as a result, good entrepreneurs increase their equilibrium leverage and invest more, and this amplifies the initial asset price increase. This model generates predictions about the credit market that are qualitatively consistent with existing evidence.nb_NO
dc.language.isoengnb_NO
dc.publisherOxford University Pressnb_NO
dc.titleEndogenous Leverage and Advantageous Selection in Credit Marketsnb_NO
dc.typeJournal articlenb_NO
dc.typePeer reviewednb_NO
dc.description.versionacceptedVersionnb_NO
dc.source.pagenumber3888-3920nb_NO
dc.source.volume30nb_NO
dc.source.journalThe Review of financial studiesnb_NO
dc.source.issue11nb_NO
dc.identifier.doi10.1093/rfs/hhw077
dc.identifier.cristin1415752
dc.description.localcode2, Forfatterversjonnb_NO
cristin.unitcode158,3,0,0
cristin.unitnameInstitutt for samfunnsøkonomi
cristin.ispublishedtrue
cristin.fulltextpostprint
cristin.qualitycode2


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