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...

Objective: The objective of the article is to integrate the theory of planned behaviour (TPB) to argue that entrepreneurial intention plays a moderating role in the relationship between institutions and entrepreneurial activity. Research Design & Methods: The article uses panel data analysis...