"Entrepreneurs pursue opportunities [for business success] without regard to resources currently under [their] control". Often cited as primary agents of economic growth, entrepreneurs have been extensively analysed. Many articles address the personal traits and behaviours of entrepreneurs, the...

Conflicts of interest between insiders (e.g, controlling shareholders) and outsiders (e.g., minority shareholders) are central to the analysis of modern corporation. In an integrated continuous-time contingent claims framework with imperfect corporate governance, we examine a controlling...