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Stiglitz addresses some aspects of the pure theory of corporate finance as they relate to bankruptcies and take-overs.
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Joseph E. Stiglitz (Sat,) studied this question.
synapsesocial.com/papers/6a140e5a2398cfa26a89486f — DOI: https://doi.org/10.7916/d82n5c7s
Joseph E. Stiglitz
United Nations Development Programme
The Bell Journal of Economics
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