Dynamic Agency and Large‐Risk Taking. (29th December 2017)
- Record Type:
- Journal Article
- Title:
- Dynamic Agency and Large‐Risk Taking. (29th December 2017)
- Main Title:
- Dynamic Agency and Large‐Risk Taking
- Authors:
- Li, Rui
- Abstract:
- Abstract: I propose a dynamic investment model with moral hazard under which greater exposure to future uncertainties about losses could enhance incentive provisions and improve firm value. The model provides an explanation for why many financial companies and investment banks choose to improve their short‐run performance by putting themselves at greater risk of catastrophic losses in the future, as what happened prior to the 2007 financial crisis.
- Is Part Of:
- International review of finance. Volume 19:Number 2(2019:Jun.)
- Journal:
- International review of finance
- Issue:
- Volume 19:Number 2(2019:Jun.)
- Issue Display:
- Volume 19, Issue 2 (2019)
- Year:
- 2019
- Volume:
- 19
- Issue:
- 2
- Issue Sort Value:
- 2019-0019-0002-0000
- Page Start:
- 471
- Page End:
- 480
- Publication Date:
- 2017-12-29
- Subjects:
- Finance -- Periodicals
Financial institutions -- Periodicals
332.673 - Journal URLs:
- http://onlinelibrary.wiley.com/journal/10.1111/(ISSN)1468-2443 ↗
http://onlinelibrary.wiley.com/ ↗
http://www.blackwell-synergy.com/servlet/useragent?func=showIssues&code=irfi ↗ - DOI:
- 10.1111/irfi.12172 ↗
- Languages:
- English
- ISSNs:
- 1369-412X
- Deposit Type:
- Legaldeposit
- View Content:
- Available online (eLD content is only available in our Reading Rooms) ↗
- Physical Locations:
- British Library DSC - 4547.155000
British Library DSC - BLDSS-3PM
British Library HMNTS - ELD Digital store - Ingest File:
- 10701.xml