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Rémunération optimale des dirigeants : faut-il interdire les bénéfices privés ?

Author

Listed:
  • Christian At
  • Nathalie Chappe
  • Pierre-Henri Morand
  • Lionel Thomas

Abstract

This model captures one of the key elements of the value diversion controversy. Within a standard mixed model, we show that shareholders are better off if they allow a certain amount of diversion even if it generates a dead-weight loss.

Suggested Citation

  • Christian At & Nathalie Chappe & Pierre-Henri Morand & Lionel Thomas, 2006. "Rémunération optimale des dirigeants : faut-il interdire les bénéfices privés ?," Revue d'économie politique, Dalloz, vol. 116(6), pages 831-846.
    • Handle: RePEc:cai:repdal:redp_166_0831
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    Cited by:

    1. de La Bruslerie, Hubert, 2016. "Does debt curb controlling shareholders' private benefits? Modelling in a contingent claim framework," Economic Modelling, Elsevier, vol. 58(C), pages 263-282.
    2. de La Bruslerie, Hubert & Gueguen, Simon, 2021. "Creditors’ holdup, releveraging and the setting of private appropriation in a control contract between shareholders," International Review of Law and Economics, Elsevier, vol. 68(C).

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