Expected Utility, Debt‐Equity Structure, and Risk Balancing
研究农业政策如何影响风险规避型农户的债务股权结构，发现降低经营风险的政策可能促使农户增加财务风险，但收入政策对杠杆率的影响尚未被探讨。
Abstract The potential effects of agricultural policy on the financial structure of farms is often not fully considered. Although it has been recognized that policies that reduce business risk may induce farmers to increase financial risk, the effects of income policies on farm leverage have not been investigated. This paper explores the relationship between farm policy and debt‐equity structure for a risk‐averse expected utility maximizer.