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Debt's shadow: How leverage weighs down investment
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Debt's shadow: How leverage weighs down investment (2025)Debt's shadow: How leverage weighs down i…Costly external finance, corporate investment, and the subprime mortgage credit crisis (2010)Costly external finance, corp…The cost of capital, corporation finance and the theory of investment (2008)The cost of capital, corporat…Financial Constraints Risk (2006)Financial Constraints RiskAgency Cost of Free Cash Flow, Corporate Finance, and Takeovers (1999)Agency Cost of Free Cash Flow…Capital-Market Imperfections and Investment (1997)Capital-Market Imperfections …Leverage, investment, and firm growth (1996)Leverage, investment, and fir…The Maturity Structure of Corporate Debt (1995)The Maturity Structure of Cor…Managerial discretion and optimal financing policies (1990)Managerial discretion and opt…Financing Constraints and Corporate Investment (1988)Financing Constraints and Cor…Agency Costs, Net Worth, And Business Fluctuations (1988)Agency Costs, Net Worth, And …Corporate financing and investment decisions when firms have information that investors do not have (1984)Corporate financing and inves…Specification Tests in Econometrics (1978)Specification Tests in Econom…Determinants of corporate borrowing (1977)Determinants of corporate bor…Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Theory of the firm: Manageria…The Market for "Lemons": Quality Uncertainty and the Market Mechanism (1970)The Market for "Lemons": Qual…The Cost of Capital, Corporation Finance and the Theory of Investment (1958)The Cost of Capital, Corporat…Moral Hazard and Observability (1979)Optimal contracts and competitive markets with costly state verification (1979)Theory ahead of business-cycle measurement (1986)The Financial Accelerator in a Quantitative Business Cycle Framework (1998)Financial intermediation and growth: Causality and causes (2000)Market Liquidity and Funding Liquidity (2008)Dividend Policy, Growth, and the Valuation of Shares (1961)The Capital Structure Puzzle (1984)A Survey of Corporate Governance (1997)The Use of Error Components Models in Combining Cross Section with Time Series Data (1969)The Use of Variance Components Models in Pooling Cross Section and Time Series Data (1971)On the Pooling of Time Series and Cross Section Data (1978)Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations (1991)Econometric Analysis of Cross Section and Panel Data (2001)Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches (2006)The General Theory of Employment, Interest and Money, by John Maynard Keynes (1936)The Theory of Investment Value, by John Burr Williams (1939)DISTRIBUTION OF INCOMES OF CORPORATIONS AMONG DIVIDENDS, RETAINED EARNINGS AND TAXES (1956)Law and Finance (1998)The theory of economic growth (1955)"The Economic Value of Education." (1964)Risk and insurance (1973)The Evolution of Cooperation (1981)The Resource-Based Theory of Competitive Advantage: Implications for Strategy Formulation (1991)The Nature of the Firm (1937)EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)The Pricing of Options and Corporate Liabilities (1973)Separation of Ownership and Control (1983)An Integrative Model Of Organizational Trust (1995)Common risk factors in the returns on stocks and bonds (1993)Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints? (1997)Corporate social responsibility and access to finance (2013)… and the Cross-Section of Expected Returns (2015)Policy Uncertainty and Corporate Investment (2015)ON THE PRICING OF CORPORATE DEBT: THE RISK STRUCTURE OF INTEREST RATES* (1974)The Benefits of Lending Relationships: Evidence from Small Business Data (1994)Threshold effects in non-dynamic panels: Estimation, testing, and inference (1999)New Evidence on Measuring Financial Constraints: Moving Beyond the KZ Index (2010)Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature (2001)
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References

  • 1976Theory of the firm: Managerial behavior, agency costs and ownership structure71,441 cited
  • 1970The Market for "Lemons": Quality Uncertainty and the Market Mechanism24,221 cited
  • 1978Specification Tests in Econometrics19,451 cited
  • 1984Corporate financing and investment decisions when firms have information that investors do not have18,936 cited
  • 1958The Cost of Capital, Corporation Finance and the Theory of Investment14,575 cited
  • 1977Determinants of corporate borrowing13,160 cited
  • 2008The cost of capital, corporation finance and the theory of investment8,614 cited
  • 1988Financing Constraints and Corporate Investment5,566 cited
  • 1988Agency Costs, Net Worth, And Business Fluctuations4,382 cited
  • 2006Financial Constraints Risk3,702 cited
  • 1990Managerial discretion and optimal financing policies3,679 cited
  • 1997Capital-Market Imperfections and Investment2,600 cited
  • 1995The Maturity Structure of Corporate Debt1,856 cited
  • 1999Agency Cost of Free Cash Flow, Corporate Finance, and Takeovers1,853 cited
  • 2010Costly external finance, corporate investment, and the subprime mortgage credit crisis1,473 cited

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  • 1996Leverage, investment, and firm growth1,304 cited
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