Agency Theory in Corporate Finance : A SurveySaurabh, Suman
Agency theory in corporate finance is gaining momentum for all the right reasons. With markets getting volatile as ever, it becomes imperative that both the interests of the shareholders and the company are taken care of. The shareholders should trust the company’s management and go the extra m...
Agency theory suggests that, in imperfect labor and capital markets, managers will seek to maximize their own utility at the expense of corporate shareholders. Agents have the ability to operate in their own self-interest rather than in the best interests of the firm because of asymmetric informat...
7.The theory of valuation is about intrinsic value,net added value and valuation models,which is the most fundamental theory of corporate finance.()8.Moral risk and adverse selection are the main manifestations of managers.deviation from financial objectives.()...
Agency theory explains how bosses (principals) assign tasks and workers (agents) execute those tasks. This concept helps us identify and fix any problems that might arise between them. In corporate governance, the principals are the company’s shareholders (or owners), and the agents are the ...
The Most Important Theory in Corporate Law is Useless: Agency Cost Theory Explains Anything and Predicts Nothing Agency cost theory provides the conceptual scheme most often used to understand the governance of corporations and the proper relationship of various corpo... BC Tingle - 《Berkeley Busines...
Capital structure is one of the most studied thematics in corporate finance because of its strong dependencies with companies' performance. Literature provides various theories trying to explain capital structure and financing decisions. Agency theory treats the subject from a principal-agent approach. ...
This paper argues that corporate finance theory, empirical research, practical applications, and policy recommendations are deeply rooted in an underlying ... Zingales,Luigi - 《Working Papers Yale School of Managements Economics Research Network》 被引量: 1976发表: 2000年 A Model of Strategic Entrep...
1、agencycostsoffreecashflow,corporatefinance,andtakeoversmichaelc.jensenamericaneconomicreview,may1986,vol.76,no.2,pp.323-329.corporatemanagersaretheagentsofshareholders,arelationshipfraughtwithconflicting interests.agencytheory,theanalysisofsuchconflicts,isnowamajorpartoftheeconomicsliterature.thepay 2、outof...
“The Modern Theory of Corporate Finance”. 2nd-edition. McGraw-Hill. (对做corporate finance比较有用。这本书其实就是收录了比较早和比较经典的corporate finance方面的文章。有点像“XX文摘精华版”。现在价值不是很大,因为其中收录的许多文章后面的list里都有。) Asset Pricing, Long-term Performance and ...