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Please refer to the paper entitled The Effect of Debt Market Imperfection on Capital Structure and Investment: Evidence from the 2008 Global Financial Crisis

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Please refer to the paper entitled " The Effect of Debt Market Imperfection on Capital Structure and Investment: Evidence from the 2008 Global Financial Crisis in Japan", by Hiromichi Iwaki (2019). Based on your understanding of the article, answer the following questions i. What is the main conclusion that was found from the study? Explain in your own words

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