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Moreover, in light of the substitution between first-mover advantage and the commitment advantage of debt financing, when the order of firms\u2019 moves in output is endogenously determined, in a sizable parameter region, there exists a Pareto-dominant equilibrium that the high-cost firm acts as the Stackelberg leader.<\/jats:p>","DOI":"10.1051\/ro\/2023004","type":"journal-article","created":{"date-parts":[[2023,1,20]],"date-time":"2023-01-20T20:00:14Z","timestamp":1674244814000},"page":"201-218","source":"Crossref","is-referenced-by-count":2,"title":["Debt financing in a duopoly with asymmetric costs"],"prefix":"10.1051","volume":"57","author":[{"given":"Lei","family":"Fang","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"ORCID":"https:\/\/orcid.org\/0000-0003-4017-3339","authenticated-orcid":false,"given":"Sai","family":"Zhao","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"250","published-online":{"date-parts":[[2023,2,15]]},"reference":[{"key":"R1","doi-asserted-by":"crossref","first-page":"1999","DOI":"10.1111\/0022-1082.00180","volume":"54","author":"Aggarwal","year":"1999","journal-title":"J. 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