The Net Worth Trap: Investment and Output Dynamics in the Presence of Financing Constraints

This paper investigates investment and output dynamics in a simple continuous time setting, showing that financing constraints substantially alter the relationship between net worth and the decisions of an optimizing firm. In the absence of financing constraints, net worth is irrelevant (the 1958 Mo...

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Detalhes bibliográficos
Main Authors: Jukka Isohätälä, Alistair Milne, Donald Robertson
Formato: Artigo
Idioma:Inglês
Publicado em: MDPI AG 2020-08-01
Colecção:Mathematics
Assuntos:
cash flow management
corporate prudential risk
the financial accelerator
financial distress
induced risk aversion
liquidity constraints
Acesso em linha:https://www.mdpi.com/2227-7390/8/8/1327
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