The centrality of private information in the design of accounting institutions has been explored via agency models that address control concerns as well as disclosure models that amplify valuation issues. Somewhat surprisingly, the joint analysis of control and valuation considerations, and...

The centrality of private information in the design of accounting institutions has been explored via agency models that address control concerns as well as disclosure models that amplify valuation issues. This paper derives disclosures by an entrepreneur-owner when both control and valuation...

The role of investment rationing by one party to discipline reporting of private information by another is well recognized. Formally, adverse selection models succinctly capture this effect via the crisp information rents vs. efficiency tradeoff. This paper takes a different slant to investment...