Agency Problems Financial Contracting And Predation
Agency Problems Financial Contracting And Predation
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In our eReader you can find the full English version of the book. Read Agency Problems Financial Contracting And Predation Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Agency Problems Financial Contracting And Predation
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To quickly assess the difficulty of the text, read a short excerpt:
In contrast, if n-, > F, the investor and the firm will negotiate to share the surplus of tt - F that is created when the firm operates. Therefore, a •k contract that originally specifies /3-i -, cannot be implemented ex-post. This implies that the most the investor can induce the firm to pay in each period is tti since the threat of not refinancing the firm is not credible. One might, however, argue that if the investor is long-lived with many 14 similar financial arrangements it may have an i...ncentive to develop a reputation for not renegotiating contracts.
Internal Finance . The analysis so far ignores the possibility that the firm may be able to finance second-period production with internally generated funds. If the firm reports profit of wi, when in fact profit is 712, in the second period the firm will be able to invest the difference between its earnings and its first-period payment, ^2 - »r Thus, if »r2 - ti > F, it may not be possible to prevent the firm from producing in the second period.
What to read after Agency Problems Financial Contracting And Predation?
You can find similar books in the "Read Also" column, or choose other free books by Patrick Bolton to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
In contrast, if n-, > F, the investor and the firm will negotiate to share the surplus of tt - F that is created when the firm operates. Therefore, a •k contract that originally specifies /3-i -, cannot be implemented ex-post. This implies that the most the investor can induce the firm to pay in each period is tti since the threat of not refinancing the firm is not credible. One might, however, argue that if the investor is long-lived with many 14 similar financial arrangements it may have an i...ncentive to develop a reputation for not renegotiating contracts.
Internal Finance . The analysis so far ignores the possibility that the firm may be able to finance second-period production with internally generated funds. If the firm reports profit of wi, when in fact profit is 712, in the second period the firm will be able to invest the difference between its earnings and its first-period payment, ^2 - »r Thus, if »r2 - ti > F, it may not be possible to prevent the firm from producing in the second period.
What to read after Agency Problems Financial Contracting And Predation?
You can find similar books in the "Read Also" column, or choose other free books by Patrick Bolton to read onlineMoreLess
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