Showing 1 - 4 of 4
Sanctions are widely used to promote compliance in principal-agent-relationships.While there is ample evidence confirming the predicted positive incentive effect of sanctions,it has also been shown that imposing sanctions may in fact reduce complianceby crowding-out intrinsic motivation. We add...
Persistent link: https://www.econbiz.de/10009022160
-sided moral hazard problem and potential partners differ intheir productivity in two tasks. It is possible for one individual to …
Persistent link: https://www.econbiz.de/10008860709
This paper proposes validation using simulation based indirect estimation. It uses typical characteristic moments of …
Persistent link: https://www.econbiz.de/10009138391
our setting, partially-entrenched managers set the rms' payout and nancing policies to maximize the presentvalue of their … rents. Shareholders can remove managers, but only at a cost. Our analysisdemonstrates that entrenched managers issue less …
Persistent link: https://www.econbiz.de/10005868708