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New Perspectives on Informational Asymmetry and Agency Relationships

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  • Haugen, Robert A.
  • Senbet, Lemma W.

Abstract

The two related problems of agency and informational asymmetry have received increasing attention in finance. In particular, prominent authors in this area (e.g., Jensen and Meckling [7], Ross [15, 16], Leland and Pyle [10], etc.) have demonstrably argued that the financial structure of the firm can be determined in the process of eliminating, or at least reducing, the costs associated with these problems.

Suggested Citation

  • Haugen, Robert A. & Senbet, Lemma W., 1979. "New Perspectives on Informational Asymmetry and Agency Relationships," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 14(4), pages 671-694, November.
    • Handle: RePEc:cup:jfinqa:v:14:y:1979:i:04:p:671-694_00
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    Cited by:

    1. Murad J. Antia & Richard L. Meyer, 1984. "The Growth Optimal Capital Structure: Manager Versus Shareholder Objectives," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 7(3), pages 259-267, September.
    2. Pan, Xiaozhen & Tang, Hongfei, 2021. "Are both managerial morality and talent important to firm performance? Evidence from Chinese public firms," International Review of Financial Analysis, Elsevier, vol. 73(C).
    3. Collins C Ngwakwe, 2023. "A Framework of Excessive Executive Compensation - An Obscured Breach in Corporate Governance Agency Contract," Oblik i finansi, Institute of Accounting and Finance, issue 3, pages 65-69, September.

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