On the Value of Transparency in Agencies with Renegotiation
Author
Abstract
Suggested Citation
DOI: 10.1111/j.1475-679X.2004.00159.x
Download full text from publisher
References listed on IDEAS
- Hermalin, Benjamin E & Katz, Michael L, 1991.
"Moral Hazard and Verifiability: The Effects of Renegotiation in Agency,"
Econometrica, Econometric Society, vol. 59(6), pages 1735-1753, November.
- Benjamin E. Hermalin and Michael L. Katz., 1990. "Moral Hazard and Verifiability: The Effects of Renegotiation in Agency," Economics Working Papers 90-141, University of California at Berkeley.
- Hermalin, Benjamin E. & Katz, Michael L., 1990. "Moral Hazard and Verifiability: The Effects of Renegotiation in Agency," Department of Economics, Working Paper Series qt1678w3w9, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
- Gigler, Frank & Hemmer, Thomas, 2002. "Informational costs and benefits of creating separately identifiable operating segments," Journal of Accounting and Economics, Elsevier, vol. 33(1), pages 69-90, February.
- Fudenberg, Drew & Tirole, Jean, 1990.
"Moral Hazard and Renegotiation in Agency Contracts,"
Econometrica, Econometric Society, vol. 58(6), pages 1279-1319, November.
- Drew Fudenberg & Jean Tirole, 1988. "Moral Hazard and Renegotiation in Agency Contracts," Working papers 494, Massachusetts Institute of Technology (MIT), Department of Economics.
- Ching-to Albert Ma, 1991. "Adverse Selection in Dynamic Moral Hazard," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 106(1), pages 255-275.
- Peter Ove Christensen & Joel S. Demski & Hans Frimor, 2002. "Accounting Policies in Agencies with Moral Hazard and Renegotiation," Journal of Accounting Research, Wiley Blackwell, vol. 40(4), pages 1071-1090, September.
- Indjejikian, Raffi & Nanda, Dhananjay, 1999. "Dynamic incentives and responsibility accounting," Journal of Accounting and Economics, Elsevier, vol. 27(2), pages 177-201, April.
- Gigler, F & Hemmer, T, 1998. "On the frequency, quality, and informational role of mandatory financial reports," Journal of Accounting Research, Wiley Blackwell, vol. 36, pages 117-147.
- Jacques Crémer, 1995. "Arm's Length Relationships," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 110(2), pages 275-295.
- Demski, JS & Frimor, H, 1999. "Performance measure garbling under renegotiation in multiperiod agencies," Journal of Accounting Research, Wiley Blackwell, vol. 37, pages 187-214.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Armstrong, Christopher S. & Guay, Wayne R. & Weber, Joseph P., 2010. "The role of information and financial reporting in corporate governance and debt contracting," Journal of Accounting and Economics, Elsevier, vol. 50(2-3), pages 179-234, December.
- Singh, Rajdeep & Yerramilli, Vijay, 2014. "Market efficiency, managerial compensation, and real efficiency," Journal of Corporate Finance, Elsevier, vol. 29(C), pages 561-578.
- Beyer, Anne & Cohen, Daniel A. & Lys, Thomas Z. & Walther, Beverly R., 2010. "The financial reporting environment: Review of the recent literature," Journal of Accounting and Economics, Elsevier, vol. 50(2-3), pages 296-343, December.
- Volker Laux, 2008. "Board Independence and CEO Turnover," Journal of Accounting Research, Wiley Blackwell, vol. 46(1), pages 137-171, March.
- Katolnik, Svetlana & Kukec, Sandra K. & Schöndube, Jens Robert, 2015. "Board Incentives and Board Independence in Dynamic Agency," Hannover Economic Papers (HEP) dp-567, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Florin c{S}abac, 2007. "Dynamic Agency with Renegotiation and Managerial Tenure," Management Science, INFORMS, vol. 53(5), pages 849-864, May.
- Sabac, Florin, 2008. "Dynamic incentives and retirement," Journal of Accounting and Economics, Elsevier, vol. 46(1), pages 172-200, September.
- Christensen, Peter O. & Feltham, Gerald A. & Sabac, Florin, 2005. "A contracting perspective on earnings quality," Journal of Accounting and Economics, Elsevier, vol. 39(2), pages 265-294, June.
- Jens Robert Schöndube, 2007. "Early versus late effort in dynamic agencies with learning about productivity," FEMM Working Papers 07026, Otto-von-Guericke University Magdeburg, Faculty of Economics and Management.
- Schmitz, Patrick W. & Ohlendorf, Susanne, 2008. "Repeated Moral Hazard, Limited Liability, and Renegotiation," CEPR Discussion Papers 6725, C.E.P.R. Discussion Papers.
- Peter O. Christensen & Hans Frimor & Florin Şabac, 2020. "Real Incentive Effects of Soft Information," Contemporary Accounting Research, John Wiley & Sons, vol. 37(1), pages 514-541, March.
- Susanne Ohlendorf & Patrick W. Schmitz, 2012.
"Repeated Moral Hazard And Contracts With Memory: The Case Of Risk‐Neutrality,"
International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 53(2), pages 433-452, May.
- Ohlendorf, Susanne & Schmitz, Patrick W., 2011. "Repeated moral hazard and contracts with memory: The case of risk-neutrality," MPRA Paper 28823, University Library of Munich, Germany.
- Armstrong, Christopher S. & Guay, Wayne R. & Weber, Joseph P., 2010. "The role of information and financial reporting in corporate governance and debt contracting," Journal of Accounting and Economics, Elsevier, vol. 50(2-3), pages 179-234, December.
- Volker Laux, 2008. "Board Independence and CEO Turnover," Journal of Accounting Research, Wiley Blackwell, vol. 46(1), pages 137-171, March.
- Christensen, Peter O. & Feltham, Gerald A. & Sabac, Florin, 2003. "Dynamic incentives and responsibility accounting: a comment," Journal of Accounting and Economics, Elsevier, vol. 35(3), pages 423-436, August.
- Peter-J. Jost, 2023. "Auditing versus monitoring and the role of commitment," Review of Accounting Studies, Springer, vol. 28(2), pages 463-496, June.
- Anil Arya & Brian Mittendorf, 2007. "The Benefits of Aggregate Performance Metrics in the Presence of Career Concerns," Yale School of Management Working Papers amz2549, Yale School of Management, revised 01 Jan 2009.
- Anil Arya & Jonathan Glover & Pierre Jinghong Liang, 2004. "Intertemporal aggregation and incentives," European Accounting Review, Taylor & Francis Journals, vol. 13(4), pages 643-657.
- Anil Arya & Brian Mittendorf, 2011. "The Benefits of Aggregate Performance Metrics in the Presence of Career Concerns," Management Science, INFORMS, vol. 57(8), pages 1424-1437, August.
- Matthews, Steven A., 2001.
"Renegotiating Moral Hazard Contracts under Limited Liability and Monotonicity,"
Journal of Economic Theory, Elsevier, vol. 97(1), pages 1-29, March.
- Steven Matthews, "undated". "Renegotiating Moral Hazard Contracts Under Limited Liability and Monotonicity," CARESS Working Papres 99-04, University of Pennsylvania Center for Analytic Research and Economics in the Social Sciences.
- Steven Matthews, "undated". "Renegotiating Moral Hazard Contracts Under Limited Liability and Monotonicity," Penn CARESS Working Papers a1fc611f7c8c403f24c4d20a6, Penn Economics Department.
- Laffont, Jean-Jacques, 1994.
"The New Economics of Regulation Ten Years After,"
Econometrica, Econometric Society, vol. 62(3), pages 507-537, May.
- Laffont, Jean-Jacques, 1992. "The New Economics of Regulation Ten Years After," IDEI Working Papers 22, Institut d'Économie Industrielle (IDEI), Toulouse.
- Erol Akçay & Adam Meirowitz & Kristopher W. Ramsay, 2018. "Two-sided unobservable investment, bargaining, and efficiency," Review of Economic Design, Springer;Society for Economic Design, vol. 22(3), pages 123-147, December.
- Katolnik, Svetlana & Kukec, Sandra K. & Schöndube, Jens Robert, 2015. "Board Incentives and Board Independence in Dynamic Agency," Hannover Economic Papers (HEP) dp-567, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
- Bushman, Robert M. & Smith, Abbie J., 2001. "Financial accounting information and corporate governance," Journal of Accounting and Economics, Elsevier, vol. 32(1-3), pages 237-333, December.
- Mathias Dewatripont & Patrick Legros & Steven A. Matthews, 2003.
"Moral Hazard and Capital Structure Dynamics,"
Journal of the European Economic Association, MIT Press, vol. 1(4), pages 890-930, June.
- Mathias Dewatripont & Patrick Legros & Steven A. Matthews, 2002. "Moral Hazard and Capital Structure Dynamics," Penn CARESS Working Papers dfdfbbfe0a5b0e04217a58a93, Penn Economics Department.
- Mathias Dewatripont & Patrick Legros & Steven Matthews, 2003. "Moral hazard and capital structure dynamics," ULB Institutional Repository 2013/9629, ULB -- Universite Libre de Bruxelles.
- Dewatripont, Mathias & Matthews, Steven A, 2002. "Moral Hazard and Capital Structure Dynamics," CEPR Discussion Papers 3487, C.E.P.R. Discussion Papers.
- Mathias Dewatripont & Patrick Legros & Steven A. Matthews, 2003. "Moral Hazard and Capital Structure Dynamics," PIER Working Paper Archive 03-006, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
Corrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:joares:v:42:y:2004:i:5:p:871-893. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=0021-8456 .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.