Capital Structure as a Control Mechanism in Corporations

Oliver Hart

Canadian Journal of Economics, 1988, vol. 21, issue 3, 467-76

Abstract: This paper gives a brief discussion of some recent work on the theory of the firm. Particular emphasis is placed on the rol e that a firm's capital structure can play in keeping management in c heck (via the market for corporate control). Some directions for futu re research are suggested.

Date: 1988
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Working Paper: Capital Structure as a Control Mechanism in Corporations (1987)
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