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Asset substitutionOccurs when a firm invests in assets that are riskier than those that the debtholders expected.
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Asset substitutionDefinition Investing in assets that are riskier than what bondholders had approved. Asset substitution leads to the asset substitution problem.
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Asset substitutionInvestment in assets of a riskier nature than expected by bondholders of a firm.
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Asset substitutionOccurs when a firm invests in assets that are riskier than those that the debtholders expected.
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