The Kraus-Litzenberger Zero-Sum Trade-Off Theory
Copyright policy ) Hak Choi;
The Kraus-Litzenberger Zero-Sum Trade-Off Theory
This paper proves that the objective function by Kraus and Litzenberger (1973) is always zero. Hence, any traded off must be zero-sum. Their inclusion of the bankruptcy variable belongs to the creditor, not the firm. This paper then works out another version of trade off: one between debt and equity, and shows that such trade off is rarely one-sided, or comes to an equilibrium.
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These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
Citations provided by BIP!popularityPopularity provided by BIP!
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
Popularity provided by BIP! 2
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