A remark on managerial behaviour and agency cost

作者：Gu, Zhihui^*; Zhang, Qingyuan

来源：Quantitative Finance, 2007, 7(5): 483-485.

DOI：10.1080/14697680601038803

• agency cost
• managerial behaviour
• private profit

This paper studies the relationship between managers' private profit and agency cost using dynamic modelling methods. We conclude that the agency cost is a concave function of the managers' private profit and that the managers' private profit will lead to more investment cash outflow.

• 出版日期2007-10
• 单位南开大学