As a first approximation, is leverage a zerosum game between debt holders and shareholders? Why do shareholders

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As a first approximation, is leverage a zero‐sum game between debt holders and shareholders? Why do shareholders benefit from more leverage? More risk? Is there a moral hazard problem?

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Financial Markets Banking And Monetary Policy

ISBN: 9781118872239

1st Edition

Authors: Thomas D. Simpson

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Question Posted: Feb 02, 2024 09:48 AM

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As a first approximation, is leverage a zerosum game between debt holders and shareholders? Why do shareholders

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Financial Markets Banking And Monetary Policy

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