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Leaning Against the Wind: Debt Financing in the Face of Adversity
(2016-12-29)
We offer evidence of a new stylized feature of corporate financing decisions: the tendency of managers to rely more on debt financing when earnings prospects are poor. We term this 'leaning against the wind' and consider ...
FLEX
FLEX – the Frankfurt Laboratory for Experimental Economic Research is a research center at the Faculty of Economics and Business at Goethe University in Frankfurt.