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pro vyhledávání: '"Habib, Michel Antoine"'
Active fund managers implicitly promise to research profitable portfolio selection. But active management is an experience good subject to moral hazard. Investors cannot tell high from low quality up front and therefore fear manager shirking. We show
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=od_______645::97bb44875ebfd576ad9992a65c6f2d67
http://www.cepr.org/active/publications/discussion_papers/dp.php?dpno=10438
http://www.cepr.org/active/publications/discussion_papers/dp.php?dpno=10438
Autor:
Habib, Michel Antoine
When not every facet of a transaction can be contracted upon and transacting parties' payoffs are asymmetric, low-powered incentives for those facets of the transaction that can be contracted upon may be necessary to avoid too large a distortion in t
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=od_______645::4fcd3f4c342b8652a48b5f640e465571
http://www.cepr.org/active/publications/discussion_papers/dp.php?dpno=10432
http://www.cepr.org/active/publications/discussion_papers/dp.php?dpno=10432
We examine the relation between firm value and managerial incentives in a sample of 1487 US firms in 1992-1997, for which the separation of ownership and control is complete. Unlike previous studies, we employ a measure of relative performance which
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=od_______645::deb64ce9b7579c9b5bac93104d8a3306
http://www.cepr.org/active/publications/discussion_papers/dp.php?dpno=2564
http://www.cepr.org/active/publications/discussion_papers/dp.php?dpno=2564
We develop the implications of the observation that entrepreneurs can affect, to some extent at least, the level of underpricing in their firms’ Initial Public Offerings (IPOs) by, for example, choosing highly reputable investment bankers as underw
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=od_______645::4b62536f2bfac9ca0722b3d7c93507fa
http://www.cepr.org/active/publications/discussion_papers/dp.php?dpno=1873
http://www.cepr.org/active/publications/discussion_papers/dp.php?dpno=1873