Selling Innovation in Bankruptcy
Author: Ma, Song, Tong, Joy Tianjiao, Wang, Wei on Jan 01, 2018
Innovation is crucial for the modern economy. Financing innovation is an important but challenging task for innovative firms as innovation is associated with high degree of uncertainty. In addition, the high-risk nature of innovation makes failure highly likely and thus the bankruptcy process particularly relevant to firms’ financing policy. Ideally,…
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