Search Results - subject_exact:"Limited liability"

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Share ownership and the introduction of no liability legislation in nineteenth-century Australia

Fleming, Grant A.; Liu, Zhangxin; Merrett, David; … - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015533568

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Share ownership and the introduction of no liability legislation in nineteenth-century Australia

Fleming, Grant A.; Liu, Zhangxin; Merrett, David; … - 2022

Book / Working Paper

The City of Glasgow Bank failure and the case for liability reform

Goodhart, Charles A. E.; Postel-Vinay, Natacha - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014546327

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The city of glasgow bank failure and the case for liability reform

Goodhart, Charles A. E.; Postel-Vinay, Natacha - 2024

Book / Working Paper

Mitigation and transfer of risks : prevention, insurance, and limited liability

Fackler, Michael - 2024

Modern society mitigates and transfers risks in a variety of ways, which range from catastrophe prevention and insurance solutions through to injustices of a minor and inconspicuous nature. We show that the measures taken depend on the uncertainty about the risks in question and involve three...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015418806

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Mitigation and transfer of risks : prevention, insurance, and limited liability

Fackler, Michael - 2021

Book / Working Paper

Licensing resource exploitation with endogenous and privately known reserves

Jääskeläinen, Jarmo; Lappi, Pauli - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015619344

Dynamic adverse selection with flow limited liability: A closed-form approach to price regulation

Di Corato, Luca; Moretto, Michele - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015619474

Licensing resource exploitation with endogenous and privately known reserves

Jääskeläinen, Jarmo; Lappi, Pauli - 2026

We design optimal mechanism to collect revenues from nonrenewable resource exploitation, when the resource must be explored and discovered and when there is asymmetric information. The exploration effort may result in a discovery that is revealed only to the firm, and the effort is not observed...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015617653

Dynamic adverse selection with flow limited liability : a closed-form approach to price regulation

Di Corato, Luca; Moretto, Michele - 2026

This paper studies a continuous-time regulatory problem in which a firm holds persistent private information about demand and is subject to a flow limited-liability constraint. The regulator regulates prices through a dynamic mechanism that ensures truthful reporting of the evolving type....

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015616443

Toward a bad job economy : AI adoption, agency costs, and job design

Fahn, Matthias; Li, Jin; Sun, Chang - 2026

We study how AI affects compensation and job design when performance depends on workers' non-contractible effort. In a principal-agent model with limited liability, AI reduces effort costs but disproportionately lowers the cost of achieving satisfactory performance. This raises the incentive...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015638113

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Toward a bad job economy : AI adoption, agency costs, and job design

Fahn, Matthias; Li, Jin; Sun, Chang - 2026

Book / Working Paper

Usury, slavery, and limited liability

Uppal, Jamshed Y. - 2023

Limitations on or total prohibition of usury (or interest) have been a pervasive theme across religions and ancient societies. Since medieval times, two major institutional changes relating to non-performance of debt contracts have taken place, namely, the abolition of slavery and the evolution...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014513972

Randomization and the robustness of linear contracts

Kambhampati, Ashwin; Peng, Bo; Tang, Zhihao Gavin; … - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015210831

Optimal contracts under moral hazard, adverse selection and limited liability

Martimort, David; Poudou, Jean-Christophe; Thomas, Lionel - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015329123

Risk taking under limited liability and moral hazard : quantifying the role of motivated beliefs

Bosch-Rosa, Ciril; Gietl, Daniel; Heinemann, Frank - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015410704

Prior-free dynamic allocation under limited liability

Chassang, Sylvain; Kapon, Samuel - 2022

A principal seeks to efficiently allocate a productive public resource to a number of possible users. Vickrey–Clarke–Groves (VCG) mechanisms provide a detail-free way to do so provided users have deep pockets. In practice however, users may have limited resources. We study a dynamic...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013327116

Overwhelmed by routine tasks : a multitasking principal agent perspective

Demougin, Dominique; Helm, Carsten - 2023

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014478607

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Overwhelmed by routine tasks : a multi-tasking principal agent perspective

Demougin, Dominique; Helm, Carsten - 2022

Book / Working Paper

Effects of stockholders' secondary tax liability on corporate investment

Lee, Jangwook - 2024

This study analyzes the impact of secondary tax liability borne by stockholders, an exception to the principle of limited liability, on corporate investment. The paper constructs a model of a firm to examine the effect of this secondary tax liability, finding that the violation of limited...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014574057

Rational overoptimism and limited liability

Gemmi, Luca - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015071210

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Rational Overoptimism and Limited Liability

Gemmi, Luca - 2023

Book / Working Paper

The origins of limited liability : catering to safety demand with investors' irresponsibility

Vuillemey, Guillaume - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015410311

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The origins of limited liability : catering to safety demand with investors' irresponsibility

Vuillemey, Guillaume - 2023

Book / Working Paper

Commitment and investment distortions under limited liability

Perla, Jesse; Pflueger, Carolin E.; Szkup, Michal - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015574666

Nuclear accidents liability and a grave natural disaster of an exceptional character

Demougin, Dominique; Nieto-Cerezo, Oscar; Wenzelburger, Jan - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014563763

Supply chain frictions

Chen, Ying-Ju; Gui, Zhengqing; Thadden, Ernst-Ludwig von; … - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014526417

The long-run effects of risk : an equilibrium approach

Kwaak, Christiaan van der; Madeira, João; Palma, Nuno - 2023

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014430855

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The long-run effects of risk : an equilibrium approach

Kwaak, Christiaan van der; Madeira, João; Palma, Nuno - 2021

Book / Working Paper

The long-run effects of risk : an equilibrium approach

Kwaak, Christiaan van der; Madeira, João; Palma, Nuno - 2021

Book / Working Paper

Shareholder liability and bank failure

Aldunate, Felipe; Jenter, Dirk; Korteweg, Arthur; … - 2021

Does enhanced shareholder liability reduce bank failure? We compare the performance of around 4,200 state-regulated banks of similar size in neighboring U.S. states with different liability regimes during the Great Depression. The distress rate of limited liability banks was 29% higher than that...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012584232

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Shareholder liability and bank failure

Aldunate, Felipe; Jenter, Dirk; Korteweg, Arthur; … - 2021

Book / Working Paper

Limited liability and the demand for coinsurance by individuals and corporations

Bergesio, Andrea; Koch Medina, Pablo; Munari, Cosimo-Andrea - 2021

Within the context of expected utility and in a discrete loss setting, we provide a complete account of the demand for insurance by strictly-risk averse agents and risk-neutral firms when they enjoy limited liability. When exposed to a bankrupting, binary loss and under actuarially fair prices,...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012614542

Information design in blockchain: a role of trusted intermediaries

Matsushima, Hitoshi - 2020

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012544632

Do non-compete clauses undermine minimum wages?

Kohler, Thomas; Schmitz, Fabian - 2020

Many low-wage workers in the United States are subject to non-compete clauses, which forbid them to work for competitors. Empirical research has found a link between the prevalence of non-compete clauses and minimum wage legislation. To explain this link, we propose a moral hazard model with...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012270561

Full Lenght Article the Role of Limited Liability Principle and Crowdfunding for Entrepreneurs to Access the Capital They Need

Güner, Temel - 2023

In today's world, which is described a global village, competition has intensified and the encouragement of entrepreneurship has become crucial for the development of countries.Especially at the beginning of the 19th century, states have been in search of finding finance for large projects that...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014260445

Limited Liability and Investment

Hou, Xinyu - 2023

Does limited liability on damages improve social efficiency? I show that the efficient liability rule is determined by the tradeoff between damages to the tort claimants and benefits to the outside stakeholders (consumers, employees, suppliers, communities, governments, etc). Full liability...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014350526

Contingent claims valuation when capital structure includes options liability

Episcopos, Athanasios - 2004

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10002108832

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Contingent Claims Valuation when Capital Structure Includes Options Liability

Episcopos, Athanasios - 2023

Book / Working Paper

Pay for performance in procurement

Ganuza, Juan José; Gómez, Fernando; Hanazono, Makoto - 2023

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014302684

Limited Liability Limited

Kleinberger, Daniel S. - 2023

Limited liability companies went mainstream in 1988, began to capture the market for closely held businesses in 1997, and now have the lion’s share of that market. Since the advent of limited liability companies, a corporate-like liability shield, in addition to pass-through status under...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014360966

Incentivizing research with (un)conditional teaching duties : punishment or rent extraction?

Schmitz, Patrick W. - 2023

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014307606

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Incentivizing research with (un)conditional teaching duties : punishment or rent extraction?

Schmitz, Patrick W. - 2023

Book / Working Paper

Managing risk in corporate groups : limited liability, asset partitioning, and risk compartmentalization

Belenzon, Sharon; Lee, Honggi; Patacconi, Andrea - 2023

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014434829

Background risk and consumers' demand for insurance under limited liability

Sorek, Gilad; Beard, Thomas Randolph - 2023

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014438037

Unveil the veil of limited liability : evidence from firm investment

Qin, Jiaqi; Sun, Yan - 2023

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014305818

Risk-taking under limited liability : quantifying the role of motivated beliefs

Bosch-Rosa, Ciril; Gietl, Daniel; Heinemann, Frank - 2021

This paper investigates whether limited liability and moral hazard affect risk-taking through motivated beliefs. On the one hand, limited liability pushes investors towards taking excessive risks. On the other, such excesses make it hard for investors to maintain a positive self-image when moral...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012698790

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Risk-taking under limited liability : quantifying the role of motivated beliefs

Bosch-Rosa, Ciril; Gietl, Daniel; Heinemann, Frank - 2019

Book / Working Paper

Risk-Taking Under Limited Liability : Quantifying the Role of Motivated Beliefs

Bosch-Rosa, Ciril; Gietl, Daniel; Heinemann, Frank - 2021

Book / Working Paper

Countercyclical capital buffers : a cautionary tale

Koch, Christoffer; Richardson, Gary; Van Horn, Patrick - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015471204

Lenders' demand for consolidating financial statements from parent borrowers

Krupa, Nicholas R.; Tucker, Jennifer Wu; Zakota, Mark; … - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015426931

The Sustainable Corporation as a Producer of Public Goods: Beyond the Privatized Justification of Limited Liability

Thaning, Morten S.; Gersel, Johan - 2025

The aim of this paper is to clarify the normative justification of limited liability for shareholders in business corporations. In contrast to libertarian positions, we argue that society needs corporations in which shareholders enjoy the freedom of limited liability, and that this privilege can...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015646565

Jensen and Meckling at 50

Bolton, Patrick - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015573417

Overwhelmed by Routine Tasks: A Multi-Tasking Principle Agent Perspective

Demougin, Dominique; Helm, Carsten - 2022

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013353365

Prior-free dynamic allocation under limited liability

Chassang, Sylvain; Kapon, Samuel - 2022

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014536995

Doubling down on debt : limited liability as a financial friction

Perla, Jesse; Pflueger, Carolin E.; Szkup, Michal - 2020

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012300965

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Doubling Down on Debt : Limited Liability as a Financial Friction

Perla, Jesse; Pflueger, Carolin E.; Szkup, Michael - 2022

Book / Working Paper

Doubling Down on Debt : Limited Liability as a Financial Friction

Perla, Jesse - 2020

Book / Working Paper

Doubling Down on Debt : Limited Liability as a Financial Friction

Perla, Jesse - 2020

Book / Working Paper

Motivated beliefs, social preferences, and limited liability in financial decision-making

Ahrens, Steffen; Bosch-Rosa, Ciril - 2023

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014492186

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Motivated beliefs, social preferences, and limited liability in financial decision-making

Ahrens, Steffen; Bosch-Rosa, Ciril - 2022

Book / Working Paper

The effects of a limited liability agreement and audit firm size on bank loan officers’ perceptions of privately held companies’ creditworthiness

Meeks, Aisha; Barr-Pulliam, Dereck - 2023

We examine how auditors' use of limited liability agreements (LLAs) impact perceptions of private company creditworthiness in a 2 × 2 between-subjects experiment. Ninety-three United States-based bank loan officers evaluate whether LLA clauses and the size of the company's external auditor...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014304504

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The Effects of a Limited Liability Agreement and Audit Firm Size on Bank Loan Officers’ Perceptions of Privately Held Companies’ Creditworthiness

Meeks, Aisha; Barr-Pulliam, Dereck - 2022

Book / Working Paper

Exploring The Role of Law in The Governance of Cryptocurrency Systems and Why Limited Liability DAOs might be a Bad Idea

Østbye, Peder - 2022

Cryptocurrencies are based on digitally signed updates (transactions) to a ledger maintained in a decentralized manner according to consensus mechanisms in compliance with consented protocols. Cryptocurrency systems are subject to several levels of governance. Self-regulation is crucial for...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014361416

Empowerment and the dark side of delegation

Kräkel, Matthias - 2018

The existing delegation literature has focused on different preferences of principal and agent concerning project selection, which makes delegating authority costly for the principal. This paper shows that delegation has a cost even when the preferences of principal and agent are exogenously...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10011795221

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Empowerment and the Dark Side of Delegation

Kräkel, Matthias - 2018

Book / Working Paper

On the optimal use of correlated information in contractual design under limited liability

Danau, Daniel; Vinella, Annalisa - 2018

Riordan and Sappington (JET, 1988) show that in an agency relationship in which the agent's type is correlated with a public ex post signal, the principal may attain first best (full surplus extraction and efficient output levels) if the agent is faced with a lottery such that each type is...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10011822030

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On the optimal use of correlated information in contractual design under limited liability

Danau, Daniel; Vinella, Annalisa - 2016

Book / Working Paper

On the Optimal Use of Correlated Information in Contractual Design Under Limited Liability

Danau, Daniel - 2018

Book / Working Paper

Optimal procurement of a credence good under limited liability

Bester, Helmut; Ouyang, Yaofu - 2018

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012103394

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Optimal procurement of a credence good under limited liability

Bester, Helmut; Ouyang, Yaofu - 2017

Book / Working Paper

The development of English company law before 1900

Turner, John D. - 2017

This article outlines the development of English company law in the four centuries before 1900. The main focus is on the evolution of the corporate form and the five key legal characteristics of the corporation - separate legal personality, limited liability, transferable joint stock, delegated...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10011587659

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The development of English company law before 1900

Turner, John D. - 2017

Book / Working Paper

Foundations of corporate law

Armour, John; Hansmann, Henry B.; Kraakman, Reinier H.; … - 2017

This paper is the first chapter of the third edition of The Anatomy of Corporate Law: A Comparative and Functional Approach, by Reinier Kraakman, John Armour, Paul Davies, Luca Enriques, Henry Hansmann, Gerard Hertig, Klaus Hopt, Hideki Kanda Mariana Pargendler, Georg Ringe, and Edward Rock...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10011674057