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Agency costs, underinvestment, and optimal capital structure : the effect of growth options to expand

Mauer, David C.; Ott, Steven Henry - In: Project flexibility, agency, and competition : new …, (pp. 151-179). 2000

Persistent link: https://www.econbiz.de/10001680722

Zur Konzeption monetärer Anreizsysteme für das Target Costing

Noltemeier, Stefan - 2003 - 1. Aufl.

Persistent link: https://www.econbiz.de/10001774808

Managers' Investment Timing Decisions under Endogenous Compensation Contracts

Hori, Keiichi - 2011

This paper considers how managers choose the timing of investment in risky but value-increasing projects with a liquidation possibility for their firm when their personal objectives are not aligned with those of shareholders but their compensation is endogenously determined. Using a real options...

Persistent link: https://www.econbiz.de/10013134724

Capital Budget Renegotiations and the Adverse Consequences of Delegating Investment Decision Rights

André, Julius - 2011

private consumption preferences affect the budgeting behavior of managers when they have investment decision rights, and that … decision rights to the manager. This occurs to a higher extent during the earlier stages of the investment when the principal … decision rights are delegated and during the more mature stages of the investment when uncertainty about his consumption …

Persistent link: https://www.econbiz.de/10013121524

Inefficient Investment Waves

He, Zhiguo - 2012

We develop a dynamic model of trading and investment with limited aggregate resources to study investment cycles. Unverifiable idiosyncratic investment opportunities imply market prices to play a role of rent distribution, distorting private investment incentives from a social point of view....

Persistent link: https://www.econbiz.de/10013103789

Das Agency-theoretische Unterinvestitionsproblem in der Publikumsgesellschaft

Wosnitza, Michael - 1991

Persistent link: https://www.econbiz.de/10013165624

The Dark Side of Internal Capital Markets : Divisional Rent-Seeking and Inefficient Investment

Scharfstein, David S. - 2008

We develop a model that shows how rent-seeking behavior on the part of division managers can subvert the workings of an internal capital market. In an effort to stop rent-seeking, corporate headquarters will be effectively forced into paying bribes to some division managers. And because...

Persistent link: https://www.econbiz.de/10012774955

Agency, Information and Corporate Investment

Stein, Jeremy C. - 2001

work for broader issues in both macroeconomics and the theory of the firm …

Persistent link: https://www.econbiz.de/10012787656

Secured debt, agency problems, and the classic model of the firm

Navas, Javier F. - In: The quarterly journal of finance 11 (2021) 3, pp. 1-45

Persistent link: https://www.econbiz.de/10012819508

Risk Aversion, Compensation Scheme, and Corporate Investment : Evidence From the Field

Ikeda, Naoshi - 2019

When previous studies analyze the relationship between compensation scheme and corporate behavior, they do not explicitly consider the personal risk aversion of executives. We directly measure the degree of risk aversion by a survey with Japanese data. We find that the higher the personal risk...

Persistent link: https://www.econbiz.de/10012871937