Bailout and Conglomeration /
The paper suggests that when firms differ stochastically in their productivity, a bank may find it optimal not to bail out the failed nonconglomerate firms at all, but to bail out conglomerates fully. Expectation of such bailout policy may encourage risk-averse firms to join a conglomerate to minimi...
| मुख्य लेखक: | |
|---|---|
| स्वरूप: | पत्रिका |
| भाषा: | English |
| प्रकाशित: |
Washington, D.C. :
International Monetary Fund,
1999.
|
| श्रृंखला: | IMF Working Papers; Working Paper ;
No. 1999/108 |
| ऑनलाइन पहुंच: | Full text available on IMF |