Investor's increased shareholding due to entrepreneur-manager collusion
Atasoy, Özgün (2007) Investor's increased shareholding due to entrepreneur-manager collusion. [Thesis]
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 anexact condition necessary for the credit market to form.
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