A Litner Model of Payout and Managerial Rents
收藏NBER2010-07-01 更新2025-01-04 收录
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https://www.nber.org/papers/w16210
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资源简介：
We develop a dynamic agency model where payout, investment and financing decisions are made by managers who attempt to maximize the rents they take from the firm, subject to a capital market constraint. Managers smooth payout in order to smooth their flow of rents. Total payout (dividends plus net
提供机构：
美国国家经济研究局
创建时间：
2010-07-01
