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  • Search: subject_exact:"Agency-Theorie"
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Year of publication
Subject
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Agency theory 13,521 Prinzipal-Agent-Theorie 13,521 Theorie 7,485 Theory 7,484 USA 3,391 United States 3,381 Corporate Governance 2,108 Corporate governance 2,071 Leistungsanreiz 1,902 Performance incentive 1,902 Führungskräfte 1,732 Managers 1,732 Asymmetrische Information 1,300 Asymmetric information 1,262 Moral Hazard 1,010 Moral hazard 1,006 Contract theory 889 Vertragstheorie 887 Eigentümerstruktur 880 Ownership structure 879 Anreiz 866 Incentives 864 Agency-Theorie 861 Leistungsentgelt 788 Performance pay 788 Deutschland 730 Spieltheorie 691 Game theory 675 Germany 675 Unternehmenserfolg 628 Firm performance 626 Executive compensation 615 Managervergütung 609 Compensation system 471 Contract 471 Vergütungssystem 471 Vertrag 468 Experiment 421 Familienunternehmen 416 Family business 416
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Online availability
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Free 3,440 Undetermined 2,427
Type of publication
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Article 7,644 Book / Working Paper 6,441 Journal 19
Type of publication (narrower categories)
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Article in journal 6,713 Aufsatz in Zeitschrift 6,713 Graue Literatur 2,907 Non-commercial literature 2,907 Working Paper 2,686 Arbeitspapier 2,684 Hochschulschrift 1,199 Thesis 1,023 Aufsatz im Buch 889 Book section 889 Bibliografie enthalten 234 Bibliography included 234 Dissertation u.a. Prüfungsschriften 184 Collection of articles written by one author 138 Sammlung 138 Collection of articles of several authors 86 Sammelwerk 86 Reprint 52 Case study 51 Fallstudie 51 Conference paper 38 Konferenzbeitrag 38 Aufsatzsammlung 37 Systematic review 34 Übersichtsarbeit 34 Konferenzschrift 33 Commentary 32 Kommentar 32 Lehrbuch 23 Textbook 20 Conference proceedings 15 Amtsdruckschrift 12 Government document 12 Forschungsbericht 10 Festschrift 8 Bibliografie 6 Mehrbändiges Werk 6 Multi-volume publication 6 Universitätsschrift 5 Elektronischer Datenträger 4
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Language
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English 12,108 German 1,814 French 78 Undetermined 47 Spanish 25 Italian 23 Dutch 12 Portuguese 4 Danish 3 Russian 3 Finnish 2 Hungarian 2 Japanese 1 Polish 1 Romanian 1 Swedish 1
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Author
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Martimort, David 61 Kräkel, Matthias 54 Strausz, Roland 53 Frey, Bruno S. 41 Schmitz, Patrick W. 40 Olsen, Trond E. 38 Schmidt, Klaus M. 38 Edmans, Alex 35 Güth, Werner 35 Schnedler, Wendelin 32 Sliwka, Dirk 28 Demougin, Dominique 27 Hofmann, Christian 27 Laffont, Jean-Jacques 27 Fehr, Ernst 26 Jiraporn, Pornsit 26 Hellwig, Martin 25 Bebchuk, Lucian A. 24 Chaigneau, Pierre 24 Dur, Robert A. J. 24 Gomez-Mejia, Luis R. 23 Dreher, Axel 22 Schöndube, Jens Robert 22 Acemoglu, Daron 21 Krähmer, Daniel 21 Shin, Dongsoo 21 Tirole, Jean 21 Sappington, David Edward Michael 20 Bartling, Björn 19 Budde, Jörg 19 Hermalin, Benjamin E. 19 Jost, Peter-J. 19 Königstein, Manfred 19 Niemann, Rainer 19 Osterloh, Margit 19 Pavan, Alessandro 19 Gersbach, Hans 18 Khalil, Fahad 18 Chrisman, James J. 17 Eliaz, Kfir 17
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Institution
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National Bureau of Economic Research 108 Max-Planck-Institut für Ökonomik <Jena> / Abteilung Strategische Interaktion 19 Springer Fachmedien Wiesbaden 16 Forschungsinstitut zur Zukunft der Arbeit 12 Center for the Study of Law and Economics <Saarbrücken> 10 Bonn Graduate School of Economics 9 Johns Hopkins University / Department of Economics 9 Université Laval / Département d'Economique 9 Ekonomiska forskningsinstitutet <Stockholm> 7 Verlag Dr. Kovač 7 Friedrich-Schiller-Universität Jena 6 Institut für Schweizerisches Bankwesen <Zürich> 6 Australian National University / Faculty of Economics and Commerce 5 Center for Economic Research <Tilburg> 5 Internationale Atomenergie-Organisation 5 London School of Economics and Political Science 5 Robert Schuman Centre for Advanced Studies 5 Sonderforschungsbereich Quantifikation und Simulation Ökonomischer Prozesse 5 Australian National University 4 Columbia University / Department of Economics 4 Foerder Institute for Economic Research <Tēl-Āvîv> 4 IGI Global 4 INSEAD 4 Institut für Weltwirtschaft 4 Institute of Finance and Accounting <London> 4 Melbourne Business School 4 OECD 4 Rutgers University / Department of Economics 4 Shaker Verlag 4 Sonderforschungsbereich 303 Information und die Koordination Wirtschaftlicher Aktivitäten, Rheinische Friedrich-Wilhelms-Universität Bonn 4 Sonderforschungsbereich Ökonomisches Risiko <Berlin> 4 Swiss National Centre of Competence in Research North South <Bern> 4 The Wharton Financial Institutions Center 4 University of Cambridge / Department of Applied Economics 4 Universität Basel / Institut für Volkswirtschaft 4 Books on Demand GmbH <Norderstedt> 3 Centre for Economic Policy Research 3 Duke University / School of Law 3 Escola de Pós-Graduação em Economia <Rio de Janeiro> 3 Institut für Statistik und Mathematische Wirtschaftstheorie <Augsburg> 3
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Published in...
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Discussion paper / Centre for Economic Policy Research 180 Journal of economic theory 154 Working paper / National Bureau of Economic Research, Inc. 137 Journal of economic behavior & organization : JEBO 133 NBER working paper series 107 Economics letters 103 CESifo working papers 99 The Rand journal of economics 99 Europäische Hochschulschriften / 5 89 Games and economic behavior 88 Discussion paper series / IZA 82 The journal of corporate finance : contracting, governance and organization 77 Management science : journal of the Institute for Operations Research and the Management Sciences 75 Journal of banking & finance 73 Journal of institutional and theoretical economics : JITE 72 Gabler Edition Wissenschaft 65 Journal of financial economics 64 NBER Working Paper 60 The journal of law, economics, & organization 60 Journal of business ethics : JOBE 59 The American economic review 59 Economic theory : official journal of the Society for the Advancement of Economic Theory 58 European economic review : EER 56 Journal of economics & management strategy : JEMS 52 Strategic management journal 52 Journal of business research : JBR 50 The review of economic studies 49 Corporate governance : an international review 48 International journal of industrial organization 47 Journal of business economics : JBE 46 Journal of management & governance 45 Econometrica : journal of the Econometric Society, an internat. society for the advancement of economic theory in its relation to statistics and mathematics 44 The accounting review : a publication of the American Accounting Association 44 The review of financial studies 43 Discussion paper 42 The journal of finance : the journal of the American Finance Association 42 Discussion paper / Tinbergen Institute 41 Journal of economic dynamics & control 40 Discussion papers / Governance and the Efficiency of Economic Systems 39 Discussion papers / CEPR 36
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Source
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ECONIS (ZBW) 13,695 USB Cologne (EcoSocSci) 274 USB Cologne (business full texts) 121 BASE 9 RePEc 3 EconStor 2
Showing 1 - 50 of 14,104
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Determinants of stock-based incentives : evidence from Korean firm-level data
Jung, Sun-Moon; Kim, Chae-yŏng - In: Seoul journal of economics : SJE 35 (2022) 1, pp. 59-87
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The influence of family governance on the value of Chinese family businesses : signal transmission effect of financial performance
Li, Yanan - In: Economies : open access journal 10 (2022) 3, pp. 1-22
The phenomenon of family governance in Chinese family businesses may not only signal a high second-party agency cost that infringes on the interests of small and medium shareholders, but it may also signal this as a stable governance structure. Based on the theory of signal transmission, this...
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Environmental incentives facing private information
Wirl, Franz - In: Environment and development economics 27 (2022) 2, pp. 167-183
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Incentives versus monitoring within the firm : understanding Codes of Corporate Governance
Alonso-Paulí, Eduard - In: Managerial and decision economics : MDE ; the … 43 (2022) 3, pp. 813-828
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Price delegation with learning agents
Atasu, Atalay; Ciocan, Dragos Florin; Désir, Antoine - 2022
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The when and how of delegated search
Zorc, Sasa; Tsetlin, Ilia; Hasija, Sameer; Chick, Stephen E. - 2022 - Revised version of 2019/44/DSC/TOM
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Is short-term debt a substitute for or complementary to good governance?
Anginer, Deniz; Demirgüç-Kunt, Asli; Simsir, Serif Aziz; … - In: Borsa Istanbul Review 22 (2022) 2, pp. 197-208
Short-term debt can reduce potential agency conflicts between managers and shareholders by exposing managers to more frequent monitoring by the credit market. Using an international dataset, we examine whether internal monitoring can substitute for external monitoring through the use of...
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Equilibrium contracts and boundedly rational expectations
Schumacher, Heiner; Thysen, Heidi Christina - In: Theoretical economics : TE ; an open access journal in … 17 (2022) 1, pp. 371-414
We study a principal‐agent framework in which the agent forms beliefs about the principal's project based on a misspecified subjective model. She fits this model to the objective probability distribution to predict output under alternative actions. Misspecifications in the subjective model may...
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The short-termism trap : competition for informed investors under stock-based CEO compensation
Dow, James; Han, Jungsuk; Sangiorgi, Francesco - 2022
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To what extent do governance, government funding and chief executive officer characteristics influence executive compensation in U.K. charities? : insights from the social theory o...
Tam Huy Nguyen; Soobaroyen, Teerooven - In: Financial accountability and management 38 (2022) 1, pp. 56-76
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European Banking Union and bank risk disclosure : the effects of the Single Supervisory Mechanism
Altunbaş, Yener; Polizzi, Salvatore; Scannella, Enzo; … - In: Review of quantitative finance and accounting 58 (2022) 2, pp. 649-683
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Principal-agent models where a principal is only affected by extreme performances
Gerchak, Yigal; Schmid, Christian - In: Managerial and decision economics : MDE ; the … 43 (2022) 2, pp. 468-477
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Receiving credit : on delegation and responsibility
Argenton, Cédric; Potters, Jan; Yang, Yadi - 2022
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Risk management and agency theory : role of the put option in corporate bonds
Tewari, Manish; Ramanlal, Pradipkumar - In: Journal of risk and financial management : JRFM 15 (2022) 2, pp. 1-28
This study sets out a new methodology to exemplify, through a set of risk metrics called the Greeks, impact of a bond’s structured provisions (e.g., call, put, and conversion options) on its risk characteristics and its propensity for agency conflicts. The methodology is assessed by applying...
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Activism and takeovers
Burkart, Mike; Lee, Samuel - In: The review of financial studies 35 (2022) 4, pp. 1868-1896
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Overwhelmed by routine tasks : a multi-tasking principal agent perspective
Demougin, Dominique; Helm, Carsten - 2022
We analyze a multitasking model with a verifiable routine task and a skill-dependent activity characterized by moral hazard. Contracts negotiated by firm/employee pairs follow from Nash bargaining. High- and low-skilled employees specialize, intermediate productivity employees perform both...
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Optimal delegated search with learning and nomonetary transfers
Bajoori, Elnaz; Wirtz, Julia - 2022
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Franchisees with multiple stakeholder roles : perceptions and conflict in franchise networks
Raha, Aveed; Hajdini, Ilir - In: Journal of strategic marketing 30 (2022) 2, pp. 160-179
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The effects of carbon emissions and agency costs on firm performance
Houqe, Muhammad Nurul; Opare, Solomon; Zahir-ul-Hassan, … - In: Journal of risk and financial management : JRFM 15 (2022) 4, pp. 1-17
Carbon emissions and agency costs can have an impact on firms’ financial performance. However, limited attention has been paid to the combined and gradual effects of these two factors on firms’ performance. We explore the separate and combined effects of carbon emissions and agency costs on...
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Control aversion in hierarchies
De Chiara, Alessandro; Engl, Florian; Herz, Holger; … - 2022
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Relative performance contracts versus group contracts with hidden savings
Archawa Paweenawat - 2022
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Partial verifiability induced contests
Strîmbu, Octavian - 2022
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Control aversion in hierarchies
De Chiara, Alessandro; Engl, Florian; Herz, Holger; … - 2022
Companies typically control various aspects of their workers' behaviors. In this paper, we investigate whether the hierarchical distance of the superior who imposes such control measures matters for the workers' ensuing reaction. In particular, we test, in a laboratory experiment, whether...
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Conflicts between parent company and non-controlling shareholders in stakeholder-oriented corporate governance : evidence from Japan
Fujita, Kento; Yamada, Akihiro - In: Journal of business economics and management 23 (2022) 2, pp. 263-283
When a company establishes subsidiaries with capital provided by a third party, the subsidiaries' shareholders include the parent company (controlling shareholders) and minority (noncontrolling) shareholders. When shareholders' interests are divergent, conflicts may arise, causing inefficiencies...
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Agency, benevolence and justice
Mukherjee, Prithvijit; Tracy, J. Dustin - 2022
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When is a contrarian adviser optimal?
Evans, Robert; Reiche, Soenje - 2022
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Common agency with non-delegation or imperfect commitment
Han, Seungjin; Xiong, Siyang - 2022
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Social preferences and the distribution of rewards
Soubeyran, Raphaël; Quérou, Nicolas; Gueye, Mamadou - 2022 - This version: June 2022
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Monetary Policy, Agent Heterogeneity and Inequality : Insights from a Three-Agent New Keynesian Model
Eskelinen, Maria - 2021
In this paper I develop a New Keynesian dynamic stochastic general equilibrium model which features three different types of representative agents (THRANK): the poor hand-to-mouth, the wealthy hand-to-mouth and the non-hand-to mouth households. Compared to a full-scale HANK model, this model is...
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Moral Hazard and the Corporate Information Environment
Luo, Dan - 2021
Much of corporate managers’ incentive is related to the stock price. Consequently, a firm can design its corporate information environment to tackle its manager’s moral hazard problem. We analyze a model in which the manager needs to exert costly effort to implement a risky, long-term...
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The Impact of Internationalization on IPO Underpricing : a Result of Agency Costs Reduction, a Certification Effect, or a Diversification Benefit?
Peng, Xuan; Jia, Yibo Franco; Chan, Kam C. - 2021
We examine the impact of internationalization on IPO underpricing in China. Our findings, which suggest that internationalization can reduce IPO underpricing, echoes similar findings in the literature. However, we document that the transmission channel is not consistent with a diversification...
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Relational Incentives Theory
Gallus, Jana; Reiff, Joseph; Kamenica, Emir; Fiske, … - 2021
Our life is built around coordinating efforts with others. This usually involves incentivizing others to do things, and sustaining our relationship with them. Using the wrong incentives backfires: it lowers effort and tarnishes our relationships. But what constitutes a ‘wrong’ incentive? And...
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Does Cash Hoarding Represent Excessive Conservatism or Opportunism of CEOs in pre-and post- crisis of 2008?
Blinder, Edward - 2021
The aim of this paper is to define and isolate the drivers of speculative cash hoarding phenomena in publicly traded non-financial American firms before and after the financial crisis of 2008. The model presented in this paper uses previous literature defined drivers of transaction and...
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Competition and Agency Problems within Banks : Evidence from Insider Lending
Girotti, Mattia; Salvadè, Federica - 2021
This paper studies whether greater competition can mitigate agency problems within banks. We measure the intensity of the agency conflict within a bank by the volume of loans that the bank lends to its insiders (e.g., executives). We first check that these loans are a form of private benefit. By...
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Optimal Allocation of Multi-Dimensional Prizes in Contests with Heterogeneous Agents
Antsygina, Anastasia - 2021
We develop a model where two players with asymmetric preferences engage in a contest game. The key novelty is the introduction of multi-dimensional rewards. We characterize the optimal prize allocation that maximizes aggregate effort. When heterogeneity in preferences is strong and the designer...
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Founder Imprinting : Innovation Performance Differences between Founders Versus Agent CEOs
Kannan‐Narasimhan, Rangapriya Priya; Wang, Ruixiang; … - 2021
Using founder imprinting literature, we theorize the innovation performance of founder versus agent CEOs. While founder imprinting is a unique mechanism that is exclusively available to founder CEOs, few studies have explored this phenomenon with corporate innovation performance. Previous...
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Reconsidering Contractual Liability and the Incentive to Reveal Information
Bebchuk, Lucian A.; Shavell, Steven - 2021
In an earlier work, we analyzed how the legal rules governing contractual liability affect the transfer of information between the parties to the contract. In particular, we showed how limitations on contractual liability might lead high valuation buyers to reveal their valuation of performance,...
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Heterogeneous Entrepreneurs and Managerial Delegation in an Open Economy
Lee, Yang-Seung - 2021
This study examines the impact of firm-level managerial delegation on aggregate economy. First, managerial delegation demands skilled labor and hence affects the labor market. Second, managerial delegation also affects the product market by improving production efficiency. Managerial delegation...
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Moral Hazard, Path Dependency, and Failing Franchisors : Mitigating Franchisee Risk through Participation
Gant, Jennifer L. L.; Buchan, Jenny - 2021
Employment relations are well understood. Business format franchising is a newer and rapidlyevolving business expansion formula, also providing employment. This article compares the fatesof employees and franchisees in their employer/franchisor insolvency.Whereas employees enjoyprotection,...
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Can Star CEOs Become Morally Better? The Role of Star CEOs on Environmental, Social and Governance Performance
Huang, Min; Li, Mengyao; Li, Xiaobo; Zhang, Meng - 2021
Grounded in the institutional theory and impressive management theory, this study establishes a link between star CEOs and environmental, social, and governance (ESG) performance. We first find that star CEOs are positively related to ESG performance and star CEOs related to the central...
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A Continuous-Time Hidden Markov Model of Credit Quality Underlying Published Agencies' Ratings
Gonzalez, Mauricio; Pineau, Edouard; Estran, Remy - 2021
This paper presents a Continuous-Time Hidden Markov Model (CT-HMM) of debt issuers' credit quality dynamics. We observe ratings published by several agencies (e.g., Standard & Poor's, Moody's, Fitch) for one or several issuers (e.g., countries) and assume that we can find a maximum-likelihood...
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Family Ownership, Organisational Control and Agency Costs in Australian Small and Medium-Sized Enterprises
Xiang, Dong; Worthington, Andrew C.; Higgs, Helen - 2021
Using the Business Longitudinal Database compiled by the Australian Bureau of Statistics, we examine the level and determinants of agency costs in small and medium-sized enterprises (SMEs), with a particular focus on the impact of family ownership and the variation in agency costs associated...
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Family Ownership, Altruism and Agency Costs in Australian Small and Medium-Sized Enterprises
Xiang, Dong; Worthington, Andrew C.; Higgs, Helen - 2021
There is continuing uncertainty about whether family firms have lower agency costs. This paper proposes that a combination of family ownership and altruism affects agency costs in family firms. To begin with, family ownership can reduce agency costs through better aligning the interests of...
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Banks as Delegated Regulators of Technology
Konina, Anastasia - 2021
Canada’s largest banks rely on private developers of regulatory technology (RegTech) to comply with the requirements of the Office of the Superintendent of Financial Institutions (OSFI). RegTech’s algorithms allow banks to organize unstructured data, identify, assess, and mitigate risk, and...
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Incentives for Contract Designers
Rodivilov, Alexander - 2021
This paper examines the optimal provision of incentives for contract designers. A principal hires an agent to draft a contract that is incomplete because the ex-ante specified design might not be appropriate ex-post. The degree of contract incompleteness is endogenously determined by the effort...
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Costly Multidimensional Screening
Yang, Frank - 2021
A screening instrument is costly if it is socially wasteful and productive otherwise. A principal screens an agent with multidimensional private information and quasilinear preferences that are additively separable across two components: a one-dimensional productive component and a...
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Incentives, Information, and Organizational Design
Stiglitz, Joseph E. - 2021
This paper explores the interaction between incentives, information, and organizational design. It argues that the virtues of the market economy do not lie so much in the vision of competition and decentralization embodied in the Arrow-Debreu model, or the Lange-Lerner-Taylor analysis of market...
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Communication of Credit Rating Agencies and Financial Markets
Menna, Lorenzo; Tobal, Martín - 2021
The ability of credit rating agencies (CRAs) to influence financial markets has been widely debated in the academic literature, policy circles and general press. While some commentators think that CRAs’ announcements have relevant effects on the markets, others reckon that they may simply...
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Incentives in Matching Markets : Counting and Comparing Manipulating Agents
Bonkoungou, Somouaoga; Nesterov, Alexander - 2021
Vulnerability to manipulation is a threat to successful matching market design. However, some manipulation is often inevitable and the mechanism designer wants to compare manipulable mechanisms and pick the best. Real-life examples include reforms in the entry-level medical labor market in the...
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Stakeholder Syndrome : Does Stakeholderism Derail Effective Protections for Weaker Constituencies?
Gatti, Matteo; Ondersma, Chrystin D. - 2021
We evaluate stakeholderism in the context of one constituency—workers—by exploring a few key known contributors to workers’ economic disadvantage: concentration and monopsony in labor markets, weak collective action protections for workers, a declining minimum wage, and the harsh reality...
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