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Production and investment under costs of adjustment a survey

✍ Scribed by Hans Tson Söderström

Book ID
112506869
Publisher
Springer Vienna
Year
1976
Tongue
English
Weight
894 KB
Volume
36
Category
Article
ISSN
1617-7134

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Real investment decisions under adjustment costs and asymmetric information
✍ Gérard Gaudet; Pierre Lasserre; Ngo Van Long 📂 Article 📅 1998 🏛 Elsevier Science 🌐 English ⚖ 200 KB

We study the cost-of-adjustment model of investment when there is asymmetry of information between owners (the principal) and managers (the agent). Information asymmetry distorts the relationship between investment and the cost of capital for all agent types, and a regime of inaction appears over a