haku: @author Dewatripont, M. / yhteensä: 11
viite: 8 / 11
| Tekijä: | Dewatripont, M. Tirole, J. |
| Otsikko: | Biased principals as a discipline device |
| Lehti: | Japan and the World Economy
1996 : JUN, VOL. 8:2, p. 195-206 |
| Asiasana: | JAPAN DEBT BUDGET |
| Kieli: | eng |
| Tiivistelmä: | This paper rationalizes the existence of multiple, biased principals as a discipline device that induces agents to expend effort. Specifically, principals are given incentives that induce them to take actions that reward (punish) agents after good (bad) performance. This framework is illustrated in the case of corporations which rely on equityholders and debtholders to keep management in check, and in the case of multiministry oversight of state-owned firms. |
SCIMA