"This book develops a new framework (stakeholder model) that helps understand corporate finance and governance in modern society, where (especially in developed countries) the sources of people's happiness have shifted from monetary to non-monetary factors. The book takes a more comprehensive...

We investigate strategic information transmission with communication error, or noise. Our main finding is that adding noise can improve welfare. With quadratic preferences and a uniform type distribution, welfare can be raised for almost every bias level by introducing a sufficiently small...