haku: @author Huddart, S. / yhteensä: 5
viite: 4 / 5
| Tekijä: | Huddart, S. Liang, P. J. |
| Otsikko: | Accounting in Partnerships |
| Lehti: | American Economic Review
2003 : MAY, VOL. 93:2, p. 410-414 |
| Asiasana: | ACCOUNTANTS ACCOUNTING ACCOUNTING PROFESSION PARTICIPATION |
| Kieli: | eng |
| Tiivistelmä: | The authors analyze factors that determine the size and composition of partnerships. They focus on one particular omnipresent size synergy, namely, improved risk-sharing. They consider sharing rules that are linear in the observable contracting variables under three information regimes. In the first-best case, perfect information about each partner's effort is contractible. Next, they consider the case where only firm output is contractible. In the final case, they assume that an accounting system provides noisy signals of partners' efforts. In each case, the tension between the risk- sharing synergy and moral hazard determines firm size. |
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