Results 261 to 270 of about 3,083,361 (307)
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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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Cost Recovery by Government Agencies [PDF]
, 2002 The Commonwealth Government asked the Productivity Commisison to review cost recovery arrangements across the Government's regulatory,administrative and information agencies,and to develop guidelines for the future application of cost recovery.
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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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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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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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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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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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Agency Costs are not a “Flop”!
1987The following comment on the paper by Dieter Schneider in this volume only deals with his critique of the agency cost approach. He considers the agency cost approach to be “a flop”. It is demonstrated that his fundamental objection, i.e. that agency costs and, in particular, the “residual loss” are not measurable, does not justify this scathing verdict.
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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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Integrated Reporting and Agency Costs: International Evidence from Voluntary Adopters
European Accounting Review, 2021Kamran Ahmed, Steven F. Cahan
exaly