The small firm, information asymmetries, and the costs and returns to various sources of finance
This dissertation examines the capital structure choices of small, owner-managed firms within the context of the "pecking order" framework of Myers (1984) and Myers and Majluf (1984). In this framework cost of capital considerations are held to be the raison d'etre of capital structure choices. The primary focus of the dissertation is on the role of information asymmetry in generating cost differences between various sources of finance, and how these differentials explain observed small...[Show more]
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