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Towards a Principal-Agent Based Typology of Risks in Public-Private Partnerships
Palma, André De; Leruth, Luc; Prunier, Guillaume - HAL - 2009
analyzed using standard tools in economics (incentives and principal-agent theory). We discuss the implications of our approach …
Persistent link: https://www.econbiz.de/10008794283
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Signaling the value of a business concept : Evidence from a structural model with Brazilian franchising data
Fadairo, Muriel; Lanchimba, Cintya - HAL - 2012
Within the wide literature regarding franchising, a few studies were devoted to the adverse selection phenomena in the franchise relationships, and to the signaling explanation of the franchisors' organizational choices. Previous empirical works concluded that the signaling framework is not well...
Persistent link: https://www.econbiz.de/10010575208
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BOARD OF DIRECTORS AND THE PRICING OF INITIAL PUBLIC OFFERINGS (IPOS): DOES THE EXISTENCE OF A PROPERLY STRUCTURED BOARD MATTER? EVIDENCE FROM FRANCE
Mnif, Anis - HAL - 2009
The purpose of this study is to introduce the board of directors as a signal of firm quality to abate information asymmetry. This study is based on agency theory and signaling theory to suggest that the existence of properly structured board at the time of the IPO may signal high firm quality to...
Persistent link: https://www.econbiz.de/10008792500
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Optimal Preventive Bank Supervision: Combining Random Audits and Continuous Intervention
Belhaj, Mohamed; Klimenko, Nataliya - HAL - 2012
Early regulator interventions into problem banks is one of the key suggestions of Basel II. However, no guidance is given on their design. To fill this gap, we outline an incentive-based preventive supervision strategy that eliminates bad asset management in banks. Two supervision techniques are...
Persistent link: https://www.econbiz.de/10010933829
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Piecework versus merit pay: a Mean Fi eld Game approach to academic behavior
Besancenot, Damien; Courtault, Jean-Michel; Dika, Khaled El - HAL - 2011
This paper applies the Mean Fi eld Game approach pioneered by Lasry and Lions (2007) to the analysis of the researchers' academic productivity. It provides a theoretical motivation for the stability of the universaly observed Lotka's law. It shows that a remuneration scheme taking into account...
Persistent link: https://www.econbiz.de/10010929096
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IPPP - Risks and opportunities An economic perspective
Brux, Julie De; Marty, Frédéric - HAL - 2014
This article analyzes some of the issues raised by institutionalized public-private partnerships in an economic perspective. We demonstrate that although they may address some of the main limits of purely contractual public-private partnerships, such as the issues of control, know-how transfer,...
Persistent link: https://www.econbiz.de/10010930091
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Incentives from stock option grants: a behavioral approach
Bahaji, Hamza - HAL - 2011
This paper examines the incentives from stock options for loss-averse employees subject to probability weighting …, the model predicts that incentives are maximized for strike prices set around the stock price at inception. This finding … accommodating their existence. The paper also examines the relationship between risk taking incentives and stock options and finds …
Persistent link: https://www.econbiz.de/10010538937
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EMPLOYEE STOCK OPTIONS INCENTIVE EFFECTS: A CPT-BASED MODEL
Bahaji, Hamza - HAL - 2011
This paper examines the incentives from stock options for loss-averse employees subject to probability weighting …, the model predicts that incentives are maximized for strike prices set around the stock price at inception. This finding …
Persistent link: https://www.econbiz.de/10010538938
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Incentives from stock option grants: a behavioral approach
Bahaji, Hamza - HAL - 2011
This paper examines the incentives from stock options for loss-averse employees subject to probability weighting … incentives are maximized for strike prices set around the stock price at inception. This finding is consistent with companies … examines the relationship between risk taking incentives and stock options and finds that an executive who is subject to …
Persistent link: https://www.econbiz.de/10010539641
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EMPLOYEE STOCK OPTIONS INCENTIVE EFFECTS: A CPT-BASED MODEL
Bahaji, Hamza - HAL - 2011
This paper examines the incentives from stock options for loss-averse employees subject to probability weighting …, the model predicts that incentives are maximized for strike prices set around the stock price at inception. This finding …
Persistent link: https://www.econbiz.de/10009295308