DocumentCode
2169346
Title
Study of Relationship between Debt, Investment and Output Market Competition Based on Bankruptcy Costs
Author
Zhao Ziqiang ; Wang Xuedong
Author_Institution
Dept. of Accounting & Finance, Nanjing Normal Univ., Nanjing, China
fYear
2010
fDate
24-26 Aug. 2010
Firstpage
1
Lastpage
4
Abstract
Drawing on Brander and Lewis´ train of thought in reaserch, we provide a new model concerning the impact of bankruptcy-cost-based liability on investment in the Cournot oligopolistic competitive environment. We have found out that in Cournot oligopolistic competition environment, the impact of debt on investment depends on the type of product competition strategy and influence of environmental changes on the marginal returns and cross marginal returns of the firm´s output and investment respectively.
Keywords
investment; marketing; Brander train; Cournot oligopolistic competitive environment; Lewis train; bankruptcy cost-based liability; cross marginal returns; debt investment; environmental changes; output market competition; product competition strategy; Companies; Finance; Games; Investments; Nash equilibrium; Production; Uncertainty;
fLanguage
English
Publisher
ieee
Conference_Titel
Management and Service Science (MASS), 2010 International Conference on
Conference_Location
Wuhan
Print_ISBN
978-1-4244-5325-2
Electronic_ISBN
978-1-4244-5326-9
Type
conf
DOI
10.1109/ICMSS.2010.5577028
Filename
5577028
Link To Document