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This article characterizes the properties of the compensation scheme of delegated portfolio management that would lead to the selection of high risk-high return portfolios. In particular, it provides conditions under which a non-monotone payment structure emerges as an optimal contract, which...
Persistent link: https://www.econbiz.de/10010289498
This article characterizes the properties of the compensation scheme of delegated portfolio management that would lead to the selection of high risk-high return portfolios. In particular, it provides conditions under which a non-monotone payment structure emerges as an optimal contract, which...
Persistent link: https://www.econbiz.de/10009959108
This article characterizes the properties of the compensation scheme of delegated portfolio management that would lead to the selection of high risk-high return portfolios. In particular, it provides conditions under which a non-monotone payment structure emerges as an optimal contract, which...
Persistent link: https://www.econbiz.de/10008660884
comprehensive view of incentives that explains what are the inexplicable paradoxes for other theoretical perspectives. The paper … analyzes the relations between incentives and helps to build up a theoretical and useful formal model of incentives. …
Persistent link: https://www.econbiz.de/10008557067
Persistent link: https://www.econbiz.de/10001560652
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La calidad de la educación es un factor determinante de la competitividad. A fin de competir globalmente México tendría que incrementar esta calidad por encima de su baja posición actual. Se han hecho varias innovaciones en la esfera federal y estatal para elevar la calidad de la educación...
Persistent link: https://www.econbiz.de/10001678207
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