Purpose This paper aims to examine the moderating effects of board size on the relationship between dividends and firm value in Malaysian settings. The theoretical foundations of this research were the integration between agency and resources dependency theories. Design/methodology/approach...

Corporate social performance (CSP) has gained in importance in recent decades. To satisfy the concerns raised by con- sumers, investors, fund providers, and governmental organizations about sustainability, businesses stick to working for a more sustainable environment. This paper examines the...

We consider a general framework of optimal contract design under the heterogeneity and short-termism of agents. Our research shows that the optimal contract must weigh the agent's information rent, incentive cost, and benefit to overcome the contract's adverse selection and moral hazards. Agents...

We study contracting when both principal and agent have to exert noncontractible effort for production to take place. An analyst is uncertain about what actions are available and evaluates a contract by the expected payoffs it guarantees to each party in spite of the surrounding uncertainty....