Financial Structure in Small Business

46 4. 3 The effect of bankruptcy costs 4. 4 The effect of agency costs 58 4. 4 Multi-period models 63 4. 3 The effect of limited liability and the risk of default 4. 4 The effect of bankruptcy costs 70 4. 5 Conclusions 79 Appendix to chapter 4 82 83 5 Determinants from the practice of small business finance 83 5.