INCENTIVE CONTRACTING WITH HIDDEN CHOICES OF EFFORT AND RISK

被引：2
|
作者：
ZOU, L
机构：
[1] Department of Financial Management, FEE, University of Amsterdam, Amsterdam, 1018 WB
来源：
ECONOMICS LETTERS | 1995年 / 47卷 / 3-4期
关键词：
D O I：
10.1016/0165-1765(94)00570-R
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We formalize an agency model where a firm's insiders choose both unobservable effort and risk, and identify conditions under which the insiders can commit to the first-best effort and risk levels while issuing securities under limited liability.
引用
收藏
页码：311 / 316
页数：6
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