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- W2371195876 abstract "Some of the managers′ distorted behaviors in classical framework of principal-agency analysis may also occur when no agency problems exist. Therefore, even in sole proprietorship structure where no agency problems exist at all the managers do not necessarily maximize the firm′s profit or value as the classical economic theory assumed. This paper makes an elaborate analysis of this inefficiency costs, called Z costs, and works such so-called optimal agency problems as whether the firm should look for new managers or manage by the owner himself, whether to hire high quality or low quality managers, whether to replace present managers, how many managers should be hired and the correspondent incentive systems." @default.
- W2371195876 created "2016-06-24" @default.
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- W2371195876 date "2004-01-01" @default.
- W2371195876 modified "2023-09-23" @default.
- W2371195876 title "On Z Costs and Agency Equilibrium when No Agency Problems Exist" @default.
- W2371195876 hasPublicationYear "2004" @default.
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