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Article: Motivating entrepreneurial activity in a firm

TitleMotivating entrepreneurial activity in a firm
Authors
Bernardo, Antonio E.Cai, HongbinLuo, Jiang
Issue Date2009
Citation
Review of Financial Studies, 2009, v. 22, n. 3, p. 1089-1118 How to Cite?
DOI: http://dx.doi.org/10.1093/rfs/hhn029
AbstractWe examine the problem of motivating privately informed managers to engage in entrepreneurial activity to improve the quality of the firm's investment opportunities. The firm's investment and compensation policy must balance the manager's incentives to provide entrepreneurial effort and to report private information truthfully. The optimal policy is to underinvest (compared to first-best) and provide weak incentive pay in low-quality projects and overinvest (compared to first-best) and provide strong incentive pay in high-quality projects.
Persistent Identifierhttp://hdl.handle.net/10722/241892
ISSN
0893-9454
2021 Impact Factor: 8.414
2020 SCImago Journal Rankings: 12.800
ISI Accession Number ID
WOS:000263425100006

 

DC FieldValueLanguage
dc.contributor.authorBernardo, Antonio E.-
dc.contributor.authorCai, Hongbin-
dc.contributor.authorLuo, Jiang-
dc.date.accessioned2017-06-23T01:56:02Z-
dc.date.available2017-06-23T01:56:02Z-
dc.date.issued2009-
dc.identifier.citationReview of Financial Studies, 2009, v. 22, n. 3, p. 1089-1118-
dc.identifier.issn0893-9454-
dc.identifier.urihttp://hdl.handle.net/10722/241892-
dc.description.abstractWe examine the problem of motivating privately informed managers to engage in entrepreneurial activity to improve the quality of the firm's investment opportunities. The firm's investment and compensation policy must balance the manager's incentives to provide entrepreneurial effort and to report private information truthfully. The optimal policy is to underinvest (compared to first-best) and provide weak incentive pay in low-quality projects and overinvest (compared to first-best) and provide strong incentive pay in high-quality projects.-
dc.languageeng-
dc.relation.ispartofReview of Financial Studies-
dc.titleMotivating entrepreneurial activity in a firm-
dc.typeArticle-
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1093/rfs/hhn029-
dc.identifier.scopuseid_2-s2.0-60449101701-
dc.identifier.volume22-
dc.identifier.issue3-
dc.identifier.spage1089-
dc.identifier.epage1118-
dc.identifier.eissn1465-7368-
dc.identifier.isiWOS:000263425100006-
dc.identifier.issnl0893-9454-

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