Blockchain technology produced a new business model; one that enables companies to profit through creating and releasing open-source code. The decentralisation of business orgs creates new corporate ...

In this paper, we study the principal-agent problem. It is well known that in continuous-time, it is possible to prove the existence of an equilibrium (u*, S*) in a considerably general setting, and ...

This paper studies a principal–agent model in which the information on future firm performance is ambiguous and the agent is averse to ambiguity. We show that if firm risk is ambiguous, while stocks ...

As a small business owner, it's likely that you routinely employ other people to perform tasks and make decisions on your behalf. Delegating responsibility can take a lot of weight off your shoulders ...