Koszty agencji długu i rozwodnienie roszczeń wierzycieli
Debt agency costs and debtholders claims dilution

Summary/Abstract: The paper focuses on measuring the debt agency costs by real options framework. A levered company which covers investment costs by equity has costs of underinvestment agency. New debt issue mitigates the underinvestment problem but may create a new one: overinvestment and debtholders claims dilution.

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