Matches in SemOpenAlex for { <https://semopenalex.org/work/W3136208366> ?p ?o ?g. }
Showing items 1 to 62 of
62
with 100 items per page.
- W3136208366 abstract "A principal delegates the running of a project to an agent subject to moral hazard over an infinite horizon, and cannot observe any of the outcomes. The agent sends reports at each instant t; naturally reports may be manipulated. Eliciting truthful revelation is necessary to the provision of effort, and is achievable by using audits and penalties. It requires that the continuation value of the agent be kept large enough, and the agent be terminated below a threshold; she receives an endogenous information rent. That rent is completely determined by the parameters of the moral hazard problem. The optimal audit trades off the instantaneous audit cost versus the drift of the cash flow process. The contract is implemented in standard financial securities. The effect of the governance problem on the cost of capital is subtle: a positive continuation utility at termination implies some recovery by financiers and so decreases the credit spread. But a deterioration in governance increases that spread sharply." @default.
- W3136208366 created "2021-03-29" @default.
- W3136208366 creator A5034223621 @default.
- W3136208366 date "2019-01-01" @default.
- W3136208366 modified "2023-09-26" @default.
- W3136208366 title "Dynamic Contracting Under Soft Information" @default.
- W3136208366 doi "https://doi.org/10.2139/ssrn.3348179" @default.
- W3136208366 hasPublicationYear "2019" @default.
- W3136208366 type Work @default.
- W3136208366 sameAs 3136208366 @default.
- W3136208366 citedByCount "0" @default.
- W3136208366 crossrefType "journal-article" @default.
- W3136208366 hasAuthorship W3136208366A5034223621 @default.
- W3136208366 hasConcept C10138342 @default.
- W3136208366 hasConcept C121955636 @default.
- W3136208366 hasConcept C137577040 @default.
- W3136208366 hasConcept C144133560 @default.
- W3136208366 hasConcept C144559511 @default.
- W3136208366 hasConcept C162118730 @default.
- W3136208366 hasConcept C162324750 @default.
- W3136208366 hasConcept C163428354 @default.
- W3136208366 hasConcept C175444787 @default.
- W3136208366 hasConcept C199521495 @default.
- W3136208366 hasConcept C2778083465 @default.
- W3136208366 hasConcept C2780202544 @default.
- W3136208366 hasConcept C29122968 @default.
- W3136208366 hasConcept C38652104 @default.
- W3136208366 hasConcept C39389867 @default.
- W3136208366 hasConcept C41008148 @default.
- W3136208366 hasConceptScore W3136208366C10138342 @default.
- W3136208366 hasConceptScore W3136208366C121955636 @default.
- W3136208366 hasConceptScore W3136208366C137577040 @default.
- W3136208366 hasConceptScore W3136208366C144133560 @default.
- W3136208366 hasConceptScore W3136208366C144559511 @default.
- W3136208366 hasConceptScore W3136208366C162118730 @default.
- W3136208366 hasConceptScore W3136208366C162324750 @default.
- W3136208366 hasConceptScore W3136208366C163428354 @default.
- W3136208366 hasConceptScore W3136208366C175444787 @default.
- W3136208366 hasConceptScore W3136208366C199521495 @default.
- W3136208366 hasConceptScore W3136208366C2778083465 @default.
- W3136208366 hasConceptScore W3136208366C2780202544 @default.
- W3136208366 hasConceptScore W3136208366C29122968 @default.
- W3136208366 hasConceptScore W3136208366C38652104 @default.
- W3136208366 hasConceptScore W3136208366C39389867 @default.
- W3136208366 hasConceptScore W3136208366C41008148 @default.
- W3136208366 hasLocation W31362083661 @default.
- W3136208366 hasOpenAccess W3136208366 @default.
- W3136208366 hasPrimaryLocation W31362083661 @default.
- W3136208366 hasRelatedWork W2064044459 @default.
- W3136208366 hasRelatedWork W2069551237 @default.
- W3136208366 hasRelatedWork W2102414205 @default.
- W3136208366 hasRelatedWork W2148138626 @default.
- W3136208366 hasRelatedWork W2375029188 @default.
- W3136208366 hasRelatedWork W2595189000 @default.
- W3136208366 hasRelatedWork W2765966116 @default.
- W3136208366 hasRelatedWork W2938501263 @default.
- W3136208366 hasRelatedWork W3123338862 @default.
- W3136208366 hasRelatedWork W3124367538 @default.
- W3136208366 isParatext "false" @default.
- W3136208366 isRetracted "false" @default.
- W3136208366 magId "3136208366" @default.
- W3136208366 workType "article" @default.