Outsourcing with debt financing

Detalhes bibliográficos
Autor(a) principal: Teixeira, João C.A.
Data de Publicação: 2014
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10400.5/15715
Resumo: This paper investigates the effect of capital structure on a firm’s choice between vertical integration and outsourcing. We model the production decision in a Principal-Agent framework and show that suppliers use debt as a strategic instrument to collect the surplus from outsourcing as their wealth constraint or limited liability ensures them more attractive compensation schemes. Investigating the buyer’s capital structure, we find that outsourcing with risky debt is more likely to occur for high values of the outsourcing surplus.
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spelling Outsourcing with debt financingOutsourcingCapital structureIncentivesUncertaintyThis paper investigates the effect of capital structure on a firm’s choice between vertical integration and outsourcing. We model the production decision in a Principal-Agent framework and show that suppliers use debt as a strategic instrument to collect the surplus from outsourcing as their wealth constraint or limited liability ensures them more attractive compensation schemes. Investigating the buyer’s capital structure, we find that outsourcing with risky debt is more likely to occur for high values of the outsourcing surplus.Springer VerlagRepositório da Universidade de LisboaTeixeira, João C.A.2018-06-25T12:45:57Z2014-042014-04-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/15715engTeixeira, João C.A. (2014). "Outsourcing with debt financing". Portuguese Economic Journal, 13(1):1-241617-982X (print)10.1007/s10258-014-0095-5metadata only accessinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-05-14T01:30:35Zoai:www.repository.utl.pt:10400.5/15715Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T17:01:19.135053Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Outsourcing with debt financing
title Outsourcing with debt financing
spellingShingle Outsourcing with debt financing
Teixeira, João C.A.
Outsourcing
Capital structure
Incentives
Uncertainty
title_short Outsourcing with debt financing
title_full Outsourcing with debt financing
title_fullStr Outsourcing with debt financing
title_full_unstemmed Outsourcing with debt financing
title_sort Outsourcing with debt financing
author Teixeira, João C.A.
author_facet Teixeira, João C.A.
author_role author
dc.contributor.none.fl_str_mv Repositório da Universidade de Lisboa
dc.contributor.author.fl_str_mv Teixeira, João C.A.
dc.subject.por.fl_str_mv Outsourcing
Capital structure
Incentives
Uncertainty
topic Outsourcing
Capital structure
Incentives
Uncertainty
description This paper investigates the effect of capital structure on a firm’s choice between vertical integration and outsourcing. We model the production decision in a Principal-Agent framework and show that suppliers use debt as a strategic instrument to collect the surplus from outsourcing as their wealth constraint or limited liability ensures them more attractive compensation schemes. Investigating the buyer’s capital structure, we find that outsourcing with risky debt is more likely to occur for high values of the outsourcing surplus.
publishDate 2014
dc.date.none.fl_str_mv 2014-04
2014-04-01T00:00:00Z
2018-06-25T12:45:57Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10400.5/15715
url http://hdl.handle.net/10400.5/15715
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv Teixeira, João C.A. (2014). "Outsourcing with debt financing". Portuguese Economic Journal, 13(1):1-24
1617-982X (print)
10.1007/s10258-014-0095-5
dc.rights.driver.fl_str_mv metadata only access
info:eu-repo/semantics/openAccess
rights_invalid_str_mv metadata only access
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Springer Verlag
publisher.none.fl_str_mv Springer Verlag
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
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