Agency Costs Firm Behviour And The Nature Of Competition
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Agency Costs Firm Behaviour And The Nature Of Competition
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Author : Philippe Aghion
language : en
Publisher:
Release Date : 1999
Agency Costs Firm Behaviour And The Nature Of Competition written by Philippe Aghion and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Agency (Law) categories.
Agency Costs Firm Behviour And The Nature Of Competition
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Author : P. Aghion
language : en
Publisher:
Release Date : 1999
Agency Costs Firm Behviour And The Nature Of Competition written by P. Aghion and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with categories.
Product Market Competition And Agency Costs
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Author : Jennifer Jane Baggs
language : en
Publisher:
Release Date : 2006
Product Market Competition And Agency Costs written by Jennifer Jane Baggs and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.
Theory Of The Firm Managerial Behavior Agency Costs And Ownership Structure
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Author : M. C. & Meckling Jensen (W. H.)
language : en
Publisher:
Release Date : 1976
Theory Of The Firm Managerial Behavior Agency Costs And Ownership Structure written by M. C. & Meckling Jensen (W. H.) and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1976 with categories.
Economics Social Institutions
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Author : K. Brunner
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Economics Social Institutions written by K. Brunner and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
The productive work of widely distributed academic research has contributed substantially, over the postwar period, to important advances in our understanding. It has also offered a clearer recognition of many unresolved problems. Never theless, the progress achieved over the last decades, ex hibited by the systematic application of "theory" to actual issues and observable problems, could not overcome a per vasive sense of dissatisfaction. Some academic endeavors pursued within a traditional range of economic analysis have appeared increasingly remote from broad social issues, motivating the social and intellectual unrest experienced in recent years. Conditioned by the traditional use of economic analysis, many have naturally concluded that the "most relevant" social issues agitating our times are beyond the reach of economics. Purist advocates of a traditional view thus condemn any extension of economic analysis to social issues as an escape into "ideology". Others argue the need for an "interdisciplinary approach" involving sociology, social psychology, or anthropology as necessary strands in a useful understanding of social, institutional, and human problems of contemporary societies. We note here, in par ticular, the subtle attraction inherent in Marxian thought. It appears to offer a unified approach, with a coherent inter pretation, to all matters and aspects of human society, in cluding even nature.
A Theory Of The Firm
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Author : Michael C. Jensen
language : en
Publisher: Harvard University Press
Release Date : 2003-09-30
A Theory Of The Firm written by Michael C. Jensen and has been published by Harvard University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-09-30 with Business & Economics categories.
This collection examines the forces, both external and internal, that lead corporations to behave efficiently and to create wealth. Corporations vest control rights in shareholders, the author argues, because they are the constituency that bear business risk and therefore have the appropriate incentives to maximize corporate value. Assigning control to any other group would be tantamount to allowing that group to play poker with someone else's money, and would create inefficiencies. The implicit denial of this proposition is the fallacy of the so-called stakeholder theory of the corporation, which argues that corporations should be run in the interests of all stakeholders. This theory offers no account of how conflicts between different stakeholders are to be resolved, and gives managers no principle on which to base decisions, except to follow their own preferences. In practice, shareholders delegate their control rights to a board of directors, who hire, fire, and set the compensation of the chief officers of the firm. However, because agents have different incentives than the principals they represent, they can destroy corporate value unless closely monitored. This happened in the 1960s and led to hostile takeovers in the market for corporate control in the 1970s and 1980s. The author argues that the takeover movement generated increases in corporate efficiency that exceeded $1.5 trillion and helped to lay the foundation for the great economic boom of the 1990s.
Theory Of The Firm
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Author : Michael C. Jensen
language : en
Publisher:
Release Date : 1976
Theory Of The Firm written by Michael C. Jensen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1976 with Business enterprises categories.
Firm Size Corporate Debt R D Activity And Agency Costs
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Author : Giorgio Canarella
language : en
Publisher:
Release Date : 2019
Firm Size Corporate Debt R D Activity And Agency Costs written by Giorgio Canarella and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
International Antitrust Law Policy Fordham Competition Law 2010
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Author : Barry E. Hawk
language : en
Publisher: Juris Publishing, Inc.
Release Date : 2011-03-01
International Antitrust Law Policy Fordham Competition Law 2010 written by Barry E. Hawk and has been published by Juris Publishing, Inc. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-03-01 with Antitrust law categories.
This volume contains articles and panel discussions delivered during the Thirty-Seventh Annual Fordham Competition Law Institute Conference on International Antitrust Law & Policy. About the Proceedings: Every October the Fordham Competition Law Institute brings together leading figures from governmental organizations, leading international law firms and corporations and academia to examine and analyze the most important issues in international antitrust and trade policy of the United States, the EU and the world. This work is the most definitive and comprehensive annual analysis of international antitrust law and policy available anywhere. The chapters are revised and updated before publication, where necessary. As a result, the reader receives up-to-date practical tips and important analyses of difficult policy issues. The annual volumes are an indispensable guide through the sea of international antitrust law. The Fordham Competition Law Proceedings are acknowledged as simply the most definitive US/EC annual analyses of antitrust/competition law published. Each annual edition sets out to explore and analyze the areas of antitrust/competition law that have had the most impact in that year. Recent "hot topics" include antitrust enforcement in Asia, Latin America: competition enforcement in the areas of telecommunications, media and information technology. All of the chapters raise questions of policy or discuss new developments and assess their significance and impact on antitrust and trade policy.
Does Product Market Competition Reduce Agency Costs
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Author : Ravi Jagannathan
language : en
Publisher:
Release Date : 2000
Does Product Market Competition Reduce Agency Costs written by Ravi Jagannathan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Capital productivity categories.
The folk wisdom is that competition reduces agency costs. We provide indirect empirical support for this view. We argue that the temptation to retain cash and engage in less productive activities is more severe for firms in less competitive industries. Hence an unanticipated increase in cash-flow due to higher past returns is more likely to lead to a reduction in leverage as well as a lowering of future returns for firms in less competitive environments. Current leverage will therefore be negatively related to past returns and positively related to future returns for such firms. In contrast, for firms in more competitive industries, the negative relation between past returns and current leverage will be attenuated. Theory suggests that the relation between current leverage and future returns for such firms will be zero or negative. Using a proxy to distinguish firms in less competitive industries and data for 165 single business firms in the U.S.A., we provide empirical supports for our arguments