Managerial Incentives, Financial Innovation, and Risk-Management Policies
收藏NBER2025-09-01 更新2025-09-13 收录
下载链接：
https://www.nber.org/papers/w34211
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资源简介：
This paper studies the risk choices of a firm run by an effort and risk-averse manager, where the firms initial risk exposure is only observed by the manager. By eliminating zero NPV risk, hedging can improve the ability of firms to efficiently induce effort from their manager. We consider
提供机构：
美国国家经济研究局
创建时间：
2025-09-01
