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The management of an airline suffering from financial distress decides to put off its plans to remodel some of its planes interiors in order to

The management of an airline suffering from financial distress decides to put off its plans to remodel some of its planes interiors in order to attract more business clientele since the additional expected cash flow generated would only go to pay off its bondholders. Instead, management uses the funds to repurchase some of its outstanding shares.This problem is know as

failure to maintain

reluctance to liquidate

underinvestment

stakeholder holdup

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