This article characterizes the properties of the compensation scheme of delegated portfolio management that would lead to the selection of high risk-high return portfolios. In particular, it provides conditions under which a non-monotone payment structure emerges as an optimal contract, which...

This article characterizes the properties of the compensation scheme of delegated portfolio management that would lead to the selection of high risk-high return portfolios. In particular, it provides conditions under which a non-monotone payment structure emerges as an optimal contract, which...

This article characterizes the properties of the compensation scheme of delegated portfolio management that would lead to the selection of high risk-high return portfolios. In particular, it provides conditions under which a non-monotone payment structure emerges as an optimal contract, which...

Financial literature and empirical evidence in global markets indicate that those companies that adequately manage their stakeholders, strengthen and disclose their corporate governance policies, achieve greater effectiveness in their institutional operation. In the context of an emerging...

Financial literature and empirical evidence in global markets indicate that those companies that adequately manage their stakeholders, strengthen and disclose their corporate governance policies, achieve greater effectiveness in their institutional operation. In the context of an emerging...