Information asymmetry
3articles
November 2026
3 articles on this page
Corporate finance10 min readBorrow or sell equity? Four capital-structure theories for SME owners
For owners of small firms choosing between a bank loan, a new investor and retained profit. Four capital-structure theories give four different answers; this article tests each on one invented example with the arithmetic shown, and says where the theories contradict each other.
Ethics & corporate governance10 min readMisleading advertising breaks markets, not only ethics
For an owner or marketing lead signing off a claim before it goes out. "It is unethical" tends to lose the argument in a meeting, while Heath's case goes to the reason profit is allowed at all. Includes the Volkswagen case as the US Department of Justice described it, and a four-question test.
- Corporate finance9 min read
Four kinds of responsible investing, and what DWS tells a buyer
For anyone about to put money in a 'responsible' fund and wanting to know what the label means. The post sets Louche and Lydenberg's four strategies beside DWS's $25m SEC settlement to show which claims a buyer can check from public documents, and which hardly at all.