From an efficient risk-bearing standpoint it makes sense for investors to hold diversified claims in all firms.
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From an efficient risk-bearing standpoint it makes sense for investors to hold diversified claims in all firms. Yet we observe partnerships and closely held corporations, which have concentrated ownership positions. Explain why.
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Related Book For
Managerial Economics and Organizational Architecture
ISBN: 978-0073375823
5th edition
Authors: James Brickley, Jerold Zimmerman, Clifford W. Smith Jr
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