Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/173658 
Autor:innen: 
Erscheinungsjahr: 
2018
Schriftenreihe/Nr.: 
FAU Discussion Papers in Economics No. 01/2018
Verlag: 
Friedrich-Alexander-Universität Erlangen-Nürnberg, Institute for Economics, Nürnberg
Zusammenfassung: 
A considerable theoretical and empirical literature studies the corporation's capital structure. Economists have paid less attention to capital structure in other enterprise forms such as partnerships, which typically operate under different legal constraints and appeal to smaller enterprises. Yet partnerships were the dominant business organization for the period in which wealthy countries first experienced long-run economic growth, and they remain quantitatively significant in some important economies today. We use a series of simple models to study several aspects of the partnership's choice of capital structure. We show that common features of partnerships reflect the difficulty of raising capital for ventures whose prospects are hard to judge. We also consider the implications of a rule in partnership law that prevents limited partners from playing a role in management, and the implications of the partnership form for projects subject to hold-up.
Schlagwörter: 
finance
optimal causal path
statistical arbitrage
lead-lag structure
high-frequency trading
cryptocurrency
JEL: 
C1
C5
C6
G1
G12
Dokumentart: 
Working Paper

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