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The Agency Problem in New Institutional Economics
Otáhal, Tomáš - In: Politická ekonomie 2009 (2009) 5, pp. 677-695
the theory of firm, the theory of market process and the theory of property rights. The second section is dedicated to the …
Persistent link: https://www.econbiz.de/10008545885
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Agency Revisited
Casadesus-Masanell, Casadesus-Masanell Ramón; Spulber, … - Fundación BBVA - 2007
The working paper presents a comprehensive overview of the principal-agent model that emphasizes the role of trust in the agency relationship. The analysis demonstrates that the legal remedy for breach of duty can result in a full-information efficient outcome eliminating both moral hazard and...
Persistent link: https://www.econbiz.de/10008685255
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Review of Guillaume Plantin and Jean-Charles Rochet, When Insurers Go Bust: An Economic Analysis of the Role and Design of Prudential Regulation
Marshall, John - In: International Journal of the Economics of Business 16 (2009) 1, pp. 139-146
When Insurers Go Bust applies agency theory and the theories of adverse selection and moral hazard as the motivation …, and transparency. In consequence, ruin theory does not have an operational role. Theory is applied in familiar ways that … inappropriate emphasis on the general theory of excessive risk-taking, which tends to deflect attention from the specific nature of …
Persistent link: https://www.econbiz.de/10005268655
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Screening Minersf Skills: Coal Industry Recruiting in Early Twentieth Century Japan
Sakai, Mayo - Institute of Social Science, University of Tokyo - 2013
Coal mining firms used the intermediary organization of labor called the gdormitory system.h In the 1900s, coal mining machinery was not introduced yet, traditional manual skills were dominant and firms usually did not enter the inside of their coal mines. Under these circumstances, firms did...
Persistent link: https://www.econbiz.de/10011211009
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An Agency Model for Trade Credit Policy
Pindado, Julio; Bastos, Rafael - Programa Interuniversitario de Doctorado en Nuevas … - 2005
also tested and compared with the proposed model. We did not find evidence to support tax theory or to support the … operational argument of transaction cost theory. We find weak evidence to support the liquidity theory, while the asymmetric … information theory was confirmed. A comparison between the agency model proposed and traditional models concluded that the Agency …
Persistent link: https://www.econbiz.de/10005264569
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Separating Moral Hazard from Adverse Selection in Automobile Insurance: Longitudinal Evidence from France
Dionne, Georges; Michaud, Pierre-Carl; Dahchour, Maki - Centre Interuniversitaire sur le Risque, les Politiques … - 2004
This paper uses longitudinal data to perform tests of asymmetric information in the French automobile insurance market for the 1995-1997 period. This market is characterized by the presence of a regulated experience-rating scheme (bonus-malus). We demonstrate that the result of the test depends...
Persistent link: https://www.econbiz.de/10005696321
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ASYMMETRIC INFORMATION IN INSURANCE FIELD: SOME GENERAL CONSIDERATIONS
Matis, Ciprian; Matis, Eugenia - In: Annales Universitatis Apulensis Series Oeconomica 1 (2013) 15, pp. 17-17
Our review aims to assess theoretical and empirical studies concerning the existence,magnitude and threats of information asymmetry in insurance field. Based on the fact that most ofthe papers examined approached both static and dynamic frameworks, a particular emphasis is puton the testable...
Persistent link: https://www.econbiz.de/10010680415
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Principal-Agent Governance Mechanism in an Emerging Biofuels Supply Chain in USA
Pandey, Vivek; Shanoyan, Aleksan; Peterson, H. Christopher - In: Asian Journal of Agriculture and rural Development 3 (2013) 8, pp. 532-542
This article analyzes the incentives and compensation problems faced by cellulosic ethanol producer and logging firms and the consequent impact on the organization of the wood based cellulosic ethanol industry in the US. The success of this relationship is central to setting up the biofuel...
Persistent link: https://www.econbiz.de/10010709556
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Сучасні моделі фінансових криз
Petrushchak, Bohdan - Volkswirtschaftliche Fakultät, … - 2010
The theoretical aspects of three generation of financial crisis’ models are analyzed. On the basis of retrospective analysis of these models are determined the main causes than make the economic misbalance more profound and than cause a crisis. Проаналізовано теоретичні...
Persistent link: https://www.econbiz.de/10008927055
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Implications of Asymmetric Information in the Real Estate Crisis in US
SUCIU, Marta Christina; PICIORUŞ, Luciana; IMBRIŞCĂ, … - In: Theoretical and Applied Economics XVIII(2011) (2011) 1(554), pp. 173-188
The economic crisis is now a common reality in most parts of the world, being translated in mass unemployment, collapse of the social system and an impressive number of bankruptcies. The paper focuses on the beginning of the recession in the American real estate sector by analyzing the...
Persistent link: https://www.econbiz.de/10008799394