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Understanding Asset Substitution Risk by Nitish Bhayrau is a document available to read on EtoBox.

What is Understanding Asset Substitution Risk about?

Asset substitution is an agency problem where shareholders encourage riskier investments that increase their potential returns but also increase the risk to bondholders of the company defaulting. When risky projects are successful, shareholders benefit but bondholders

Author

Nitish Bhayrau

Language

EN