Malfeasance and the Market

Malfeasance and the Market
Новые поступления
Искать в интернет библиотекахКупить


The corporate world has been rocked of late by scandals involving boards cheating shareholders, managers cheating boards and shareholders and auditors colluding with firms they are supposed to monitor. This book explores the microeconomics of this phenomenon. It uses the tools of the theory of games and of asymmetric information to establish the conditions under which boards, managers and auditors will be constrained to honesty. A recommendation: mandatory disclosure of audit fees. We also examine the costs and consequences of ensuring credibility– a limit on firm size, which, together with a minimum size requirement on firms, sets a floor to the personal wealth needed by an entrepreneur for entry. This has implications for the income distribution needed for industrialization and the nature of development policy. A final problem is that ofcheating between a final producer and his supplier: we discuss the form of the optimal contract that could avert this. People with some background...

Похожие книги

Surface Mount Technology for PC BoardsSurface Mount Technology for PC Boards
Автор: James Hollomon, Glenn Blackwell
Год: 2005
1997 FA Cup Final1997 FA Cup Final
Год: 2011
Final Cut Pro® HD For Dummies®Final Cut Pro® HD For Dummies®
Автор: Helmut Kobler
Год: 2004
Empowering Boards for LeadershipEmpowering Boards for Leadership
Автор: John Carver
Год: 1992
The Ophthalmology Examinations ReviewThe Ophthalmology Examinations Review
Автор: Tien Yin Wong
Год: 2001