Scedil; A, enay; gbreve; ca; Mansi, Sattar A. - In: Journal of Financial Research 31 (2008) 2, pp. 85-112
We examine the effect of agency conflicts on debt financing and show that managerial ownership and its interaction with takeover defenses affect these decisions. We find that (1) the relation between leverage and takeover defenses becomes insignificant when we control for the interaction of...