TY  - JOUR 
AU  - Fuente Herrero, Gabriel de la
AU  - Velasco González, María Del Pilar
PY  - 2020
SN  - 0378-4266
UR  - https://uvadoc.uva.es/handle/10324/65392
AB  - This study investigates the role of debt as an internal governance mechanism that can be employed by companies to curb agency conflicts and discourage managers from value-destroying diversification. Using a panel of U.S. firms, we find that leverage...
LA  - eng
PB  - Elsevier
KW  - Empresas-Finanzas
KW  - corporate diversification
KW  - capital structure
KW  - agency theory
KW  - overinvestment
KW  - firm value
TI  - Capital structure and corporate diversification: Is debt a panacea for the diversification discount?
DO  - https://doi.org/10.1016/j.jbankfin.2019.105728
ER  -