Investor's increased shareholding due to entrepreneur-manager collusion
Atasoy, Özgün and Barlo, Mehmet (2007) Investor's increased shareholding due to entrepreneur-manager collusion. [Working Paper / Technical Report] Sabanci University ID:SU_FASS_2007/0014
This study presents an investor/entrepreneur model in which the entrepreneur has opportunities to manipulate the workings of the project via hidden arrangements. We provide the optimal contracts in the presence and absence of such hidden arrangements. The contracts specify the shareholding arrangement between investor and entrepreneur. Moreover, we render an exact condition necessary for the credit market to form.
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