Optimal Short-Termism

Alejandro Rivera, Tak-Yuen Wong, Alejandro Rivera, Tak-Yuen Wong, Dirk Hackbarth   Jan 14,2018

This paper studies incentives in a dynamic contracting framework of a levered firm. In particular, the manager selects long-term and... Read More

Insider Investor and Information

Ehsan Azarmsa,Ehsan Azarmsa, Lin William Cong (叢林)   Aug 18,2017

Relationship financing of innovative projects, as is common in bank lending and venture capital, features incumbent financiers' observing interim information... Read More