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

Author

Listed:
  • Christian At

    (CRESE - Centre de REcherches sur les Stratégies Economiques (UR 3190) - UFC - Université de Franche-Comté - UBFC - Université Bourgogne Franche-Comté [COMUE])

  • Nathalie Chappe

    (CRESE - Centre de REcherches sur les Stratégies Economiques (UR 3190) - UFC - Université de Franche-Comté - UBFC - Université Bourgogne Franche-Comté [COMUE])

  • Lionel Thomas

    (CRESE - Centre de REcherches sur les Stratégies Economiques (UR 3190) - UFC - Université de Franche-Comté - UBFC - Université Bourgogne Franche-Comté [COMUE])

  • Pierre-Henri Morand

    (CRESE - Centre de REcherches sur les Stratégies Economiques (UR 3190) - UFC - Université de Franche-Comté - UBFC - Université Bourgogne Franche-Comté [COMUE])

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.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Christian At & Nathalie Chappe & Lionel Thomas & Pierre-Henri Morand, 2006. "Rémunération optimale des dirigeants : faut-il interdire les bénéfices privés ?," Post-Print hal-00448791, HAL.
    • Handle: RePEc:hal:journl:hal-00448791
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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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