Similar Search Results

Aggregate consequences of credit subsidy policies: firm dynamics and misallocation

Jo, In Hwan; Senga, Tatsuro - In: Review of economic dynamics 32 (2019), pp. 68-93

Persistent link: https://www.econbiz.de/10012230467

Aggregate consequences of credit subsidy policies : firm dynamics and misallocation

Jo, Hwan; Senga, Tatsuro - 2017

collateral constraints and endogenous entry and exit. A defining feature of our model is a non-Gaussian process of firm …

Persistent link: https://www.econbiz.de/10011756140

Agency, Firm Growth and Managerial Turnover

Anderson, Ronald W.; Bustamante, Maria Cecilia; … - 2016

We study managerial incentive provision under moral hazard in an environment where growth opportunities arrive stochastically over time and taking them requires a change of management. The firm faces a trade-off between the benefit of always having a manager able to seize new opportunities and...

Persistent link: https://www.econbiz.de/10014040704

Creditor Control Rights and Borrower Protection : The Role of Borrower Consent Clause in Private Debt Contracts

Beyhaghi, Mehdi - 2019

In private debt contracts with a borrower consent clause, a creditor's decision to transfer its portion of the loan can be thwarted if the borrower denies the consent to loan transfer. We find that the probability of the inclusion of a borrower consent clause in a private debt contract increases...

Persistent link: https://www.econbiz.de/10012863161

Creditor Control Rights and Borrower Protection : The Role of Borrower Consent Clause in Private Debt Contracts

Deng, Saiying; Li, Yutao - 2023

We investigate how borrower consent clause (BCC) is used in private debt contracts as a contract design mechanism to protect borrower interests. We find that the probability of including a BCC in debt contracts increases in the intensity of creditor control rights measured by number of financial...

Persistent link: https://www.econbiz.de/10014253929

Financial constraints and propagation of shocks in production networks

Demir, Banu; Javorcik, Beata K. Smarzynska; Michalski, … - 2020

empirical tests, motivated by a simple theory, demonstrate that low-liquidity firms amplified its transmission. …

Persistent link: https://www.econbiz.de/10012294883

The impact of incentive pay on corporate crime

Herold, Daniel - 2017

This paper presents a moral hazard model analyzing the agent's incentive to commit corporate crime. The principal can only observe profits which the agent can increase by committing crime or exerting effort. It is shown how different incentive contracts, i.e., thresholdlinear, capped bonus and...

Persistent link: https://www.econbiz.de/10011773464

Contract Mixing in Franchising as a Mechanism for Public Good Provision

Bai, Chong-En; Tao, Zhigang - 2001

This paper is concerned with the coexistence of company-owned units and franchised units in business format franchising … construct a multitask model to account for such contract mixing in franchising. Intuitively, low-powered contracts are offered … the remaining managers to elicit sales activity and capture the beneficial effect of the company brand name. Franchising …

Persistent link: https://www.econbiz.de/10014179788

Contract Mixing in Franchising as a Mechanism for Public Good Provision

Bai, Chong-En; Tao, Zhigang - 1999

Persistent link: https://www.econbiz.de/10014181954

Monitoring costs, credit constraints and entrepreneurship

Banerji, Sanjay; Raj, Rajesh S. N.; Sen, Kunal - 2012

The vast majority of firms in developing economies are micro and small enterprises owned by families whose members also provide the labour to the units. Often, they fail to grow in size even with the relaxation of credit constraints. In this paper, we show that frictions in the labour market...

Persistent link: https://www.econbiz.de/10009548201