𝔖 Bobbio Scriptorium
✦   LIBER   ✦

OPTIMAL CAPITAL AND RISK TRANSFERS FOR GROUP DIVERSIFICATION

✍ Scribed by Damir Filipović; Michael Kupper


Book ID
111043091
Publisher
John Wiley and Sons
Year
2007
Tongue
English
Weight
186 KB
Volume
18
Category
Article
ISSN
0960-1627

No coin nor oath required. For personal study only.


📜 SIMILAR VOLUMES


Bankruptcy risk, firm-specific manageria
✍ David C. Rose 📂 Article 📅 1992 🏛 Springer US 🌐 English ⚖ 585 KB

This paper proposes a model in which firm diversification acts as an efficient form of nonpecuniary compensation for the manager. In the model diversification rewards the manager by reducing the likelihood of bankruptcy which in turn increases the expected value of his firm-specific human capital. U