We analyze the optimal contract between a risk-averse manager and the initial shareholders in a two-period model where the manager's investment effort, carried out in period 1, and her current effort, carried out in period 2, both impact the second-period profit, so that it may be difficult to...

Liquidity injections for the markets allow asset management companies to show positive dynamics for their clients-investors. However, inability of some companies to estimate adequately a market situation, to hedge risks, lacks of internal control and risk management systems lead to rather...