When you consider investing in the market, your mind probably goes to low-cost index funds. Even a small amount of money can be invested and gain exposure to a significant amount of diversification.
The Review of Financial Studies, Vol. 10, No. 4 (Winter, 1997), pp. 1203-1236 (34 pages) This theory can explain why bank debt is universally senior, consistent with the presence of conflict (lawyers) ...
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