Jean-Baptiste, Eslyn L. (contributor); … - 2003 - [Elektronische Ressource]
2003
Abstract
The paper considers an industry featuring agency problems between outside investors
and entrepreneurs …
perquisites (“non-pecuniary benefits”) and maximizing the value of the firm, and that the
agency costs of outside financing are …. They showed how the agency costs of outside equity reduced the optimal scale
of a firm. In contrast, we consider the …