Results 211 to 220 of about 256,945 (259)
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Wealth effects and agency costs
Games and Economic Behavior, 2014zbMATH Open Web Interface contents unavailable due to conflicting licenses.
Hector Chade, Virginia N. Vera de Serio
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2023
Abstract This chapter examines agency and costs. The law of agency will apply where a person (the agent) is authorised to act as the representative of another person (the principal), such that the agent has the authority to create legal relations between the principal and third parties.
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Abstract This chapter examines agency and costs. The law of agency will apply where a person (the agent) is authorised to act as the representative of another person (the principal), such that the agent has the authority to create legal relations between the principal and third parties.
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Debt, Agency Costs, and Industry Equilibrium
The Journal of Finance, 1991ABSTRACTWe show that risk characteristics of projects' cash flows are endogenously determined by the investment decisions of all firms in an industry. As a result, in reasonable settings, financial structures which create incentives to expropriate debtholders by increasing risk are shown not to reduce value in an industry equilibrium.
Maksimovic, Vojislav, Zechner, Josef
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Costs of agency index: the need to measure agency costs
2020This study aims to make known the need to create an indicator that can measure the agency costs resulting from agency conflicts set out in the agency's theory. The increasing complexity of the management of organizations, coupled with increased dimensions and geographical coverage, most often their scope is reflected on a global scale, leads to the ...
Quaresma, Ana, Ribeiro, Sandra
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Agency costs and investment behavior [PDF]
, 2005 How do differences in the creit channel affect investment behavior in the U.S. and the Euro area? To analyze this question, we calibrate an agency cost model of business cycles. We focus on two key components of the lending channel, the default premium associated with bank loans and bankruptcy rates, to identify the differences in the U.S. and European
Dorofeenko, Viktor +2 more
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Contingent Fees and Agency Costs
The Journal of Legal Studies, 1996In this article, I examine the operation of ordinary linear contingent fees in a model of litigation in which the recovery on a claim is a function of the lawyer's efforts. My object here is to analyze the linear fee that maximizes the client's welfare in the presence of attorney moral hazard.
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The Home Health Agency as a Cost Center
Home Health Care Services Quarterly, 1995Decisions involving the economics of home health care agencies require accurate and useful data on agency finances and cost-efficiency relationships, One step in the direction of improving economic management can be taken by defining the agency as a cost center, that is as an economic entity, with which specific resources, revenues and costs which can ...
N, Doherty, S, Thal
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Women in Top Management and Agency Costs
SSRN Electronic Journal, 2008Abstract This study investigates gender diversity among the top managers of Fortune 500 firms and its effect on agency costs. The study finds that firms with a greater percentage of female officers present lower agency costs but that the negative relation is not robust when considering the endogeneity of diversity.
Anthony F. Jurkus +2 more
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Public Choice, 2001
The paper investigates the impact of agency costs on clubmembership. Using a simple principal-agent model, under standardassumptions, the paper demonstrates that increased agency costsassociated with hidden action can lead to an expansionary bias.
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The paper investigates the impact of agency costs on clubmembership. Using a simple principal-agent model, under standardassumptions, the paper demonstrates that increased agency costsassociated with hidden action can lead to an expansionary bias.
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The design of public agencies: overcoming agency costs and commitment problems
Public Administration and Development, 2004AbstractThis article focuses on problems of institutional design from a political perspective. It examines the problems of agentification using a principal–agent framework, and attempts to explain the choices made between problems of commitment and problems of agency. The fundamental problem addressed is the degree of autonomy possible within a broader
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