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Corporate governance, debt, and investment policy during the great depression

John R. Graham, Auteur ; Sonali Hazarika, Auteur ; Krishnamoorthy Narasimhan, Auteur |

Dans Management science (Vol. 57 N° 12, Décembre 2011)

We study a period of severe disequilibrium to investigate whether board characteristics are related to corporate investment, debt usage, and firm value. During the 1930–1938 Depression era, when the corporate sector was shocked by an unprecedent[...]

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