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| A hidden channel of "blood transfusion": Internal capital market subsidies and zombie firms This impact is stronger when the liquidity of the external capital market is higher or when there is a finance firm in the internal capital market.
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| 4. An individual without access to financial markets | Chegg.com An individual without access to financial markets will receive $10 today and $20 tomorrow. His intertemporal utility function is represented by U(x1, ...
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