Corporate Insurance and the Underinvestment Problem
- 1 March 1987
- journal article
- Published by JSTOR in Journal of Risk and Insurance
- Vol. 54 (1) , 45
- https://doi.org/10.2307/252881
Abstract
A casualty loss produces option-like characteristics in assets because their value depends on further discretionary investment. With risky debt in the firm'...This publication has 0 references indexed in Scilit: