Optimal Contracting, Corporate Finance, and Valuation with Inalienable Human Capital
收藏NBER2015-03-01 更新2025-01-04 收录
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https://www.nber.org/papers/w20979
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A risk-averse entrepreneur with access to a profitable venture needs to raise funds from investors. She cannot indefinitely commit her human capital to the venture, which limits the firms debt capacity, distorts investment and compensation, and constrains the entrepreneurs risk-sharing. This puts
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美国国家经济研究局创建时间：
2015-03-01
