[tag=IN] [word=which] [word=firms] [!word=manage] [□]
[tag=IN] [word=which] [word=firms] [!word=manage] [□=□]
[tag=IN] [word=which] [word=firms] [!word=manage] [□ | □]
" The results also suggest there is a trade-off in which firms weigh the costs and benefits of debt when they make capital-structure decisions . Coffee argues that there is an important movement towards " functional convergence , " through which firms around the world are adopting U.S. - type mechanisms to protect investors . This course examines industries in which firms have the potential to exercise market power . I present a model in which firms choose the currency composition of their debts so as to minimize their probability of default . Healthy economies require not only liberal trade and FDI regimes , but markets that are contestable - where firms can enter and exit markets with ease - and in which firms face the discipline of competition , states WIR97 .