How Capital Structure Influences Diversification Performance: A Transaction Cost Perspective
Extant theories agree that debt should inhibit diversification, but predict opposing performance consequences. While agency theory predicts that debt should lead to higher performance for diversifying firms, transaction cost economics (TCE) predicts that more debt will lead to lower performance for...
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| Main Authors: | , , , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2013
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/lkcsb_research/4594 https://ink.library.smu.edu.sg/context/lkcsb_research/article/5593/viewcontent/How_Capital_Structure_Influences_Diversification_Performance__A_T.pdf |
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| Institution: | Singapore Management University |
| Language: | English |