... chooses to implement. This cost-minimizing distribution is the one the agent would choose absent any explicit incentives, and it implicitly captures both firm- and agent-specific characteristics, such as the firm’s dependence on managerial input or the agent’s career concerns. Agency theory has long...

...John E. Core; Heidi A. Packard ABSTRACT A large body of empirical work provides mixed support for the central prediction from agency theory that noisier performance measures receive less weight in incentive contracts. We develop a method to calculate price-based and non-price-based performance...

..., CA, USA. conservative accounting agency theory litigation risk universal demand Shareholder lawsuits are an important governance mechanism that reduce agency conflicts between shareholders and managers ( La Porta, Lopez-de-Silanes, Shleifer, and Vishny 1998 ; Ferris, Jandik, Lawless...

... generally are being smoothed through the equilibrium behavior. agency theory multi-period contracts income smoothing One of the earliest formal results in the accounting literature on (real) equilibrium earnings management is that of income smoothing provided by Lambert (1984) . In a multi...

... financial support from City University of Hong Kong (Project No. 7004554). K. Hung Chan also acknowledges partial financial support of this research from the Hong Kong Institute of Business Studies (HKIBS) of Lingnan University. intergovernmental agency conflicts agency theory tax sharing reform...