Full-Text Search:
Home|Journal Papers|About CNKI|User Service|FAQ|Contact Us|中文
《Journal of Industrial Engineering and Engineering Management》 2007-01
Add to Favorite Get Latest Update

Research on Principal-Agent Model Based on Overconfident Agent

CHEN Qi-an,YANG Xiu-tai(The College of Economics and Business Administration,Chongqing University,Chongqing 400044,China)  
This paper researches principal-agent theory in the presence of overconfident agent and mechanism of overconfidence affecting on principal-agent theory.The result shows that when active wage of agent and monitoring cost of principal are not zero,the optimal level of effort exerted by agent in equilibrium would always increase in the overconfident level of agent and the optimal intensity of monitoring of principal in equilibrium would always decrease in the overconfident level of agent,and when active wage of agent is zero,the overconfident level of agent would not affect principal-agent relation.In addition,the optimal level of effort exerted by agent and the optimal intensity of monitoring of principal in equilibrium would decrease in the monitoring cost of principal,and the former would increase in fix wage and active wage of agent,and the latter would increase in fix wage of agent,but not always increase in active wage of agent.
【CateGory Index】: F224
Download(CAJ format) Download(PDF format)
CAJViewer7.0 supports all the CNKI file formats; AdobeReader only supports the PDF format.
【References】
Chinese Journal Full-text Database 1 Hits
1 ZHANG Zheng-zheng,HUANG Deng-shi(School of Economics and Management,Southwest Jiaotong University,Chengdu 610031,China);Compensation Contract Design for Overconfident Agent with Different Risk Preference[J];Journal of Industrial Engineering and Engineering Management;2009-02
【Citations】
Chinese Journal Full-text Database 1 Hits
1 Chen Xiaoyue and Xu Xiaodong;Equity Structure,Firm Performance and the Protection for Investers' Interest[J];Economic Research Journal;2001-11
【Co-references】
Chinese Journal Full-text Database 10 Hits
1 Chen Xiaoyue & Li Chen;Expected Stock Returns and Debt/Equity Ratio in Shanghai Stock Exchange:An EmpiricalEvidence[J];JOURNAL OF PEKING UNIVERSITY(HUMANITIES AND SOCIAL SCIENCES);1995-01
2 HE Jian-jia~1,GE Yu-hui~2,ZHANG Guang-yuan~2(1.School of Management,University of Shanghai for Science and Technology,Shanghai,200093,China;2.School of Business,Zhongshan(Sun Yat-sen) University,Guangzhou,510275,China);A Study on Organizational Change and IT Governance[J];Commercial Research;2006-17
3 LIU Yu-lin,YANG Xian-bin (College of Trade and Public Administration,Chongqing University,Chongqing 400030,China);A Study on Investment Management of Pension Fund According to Client-Agent Model of Risk and Profit[J];Journal of Chongqing University(Social Science Edition);2006-03
4 HE Wei~(1,2)(1. The Chinese Communist Party School of Chongqing City Council, Chongqing 400041, China; 2. School of Economic Management, Southwest Jiaotong University, Chengdu 610031, China);Information Asymmetry and IT Governing[J];Journal of Chongqing Institute of Technology;2005-07
5 Zhan Yong1 Yan Taihua2;Multi Principal-agents Paradox in Corporate Governance and the Institutional Complementarity[J];Finance & Economics;2007-03
6 XIE Shi-feng~1,PEN Yu-long~2 (1.Accounting School,Hunan University,Changsha 410079,China; 2.Accounting School,Shanghai University of Finance and Economics,Shanghai 200439,China);EVA and Evaluation of Residual Income:Relation and Reflection[J];Collected Essays on Finance and Economics;2004-04
7 JIANG Wei,SHEN Yi-feng(School of Management,Xiamen University,Xiamen 361005,China);Large Shareholders Control,Asset Substitution and Creditor Protection[J];Journal of Finance and Economics;2005-12
8 QU Yao-hui,FU Yuan-lue(Center for Accounting Studies,Xiamen University,Xiamen 361005,China);The Pecking Order Theory Verified by Chinese Companies Data: Test on Preference of Equity Financing Again[J];Journal of Finance and Economics;2007-02
9 Li Qingyuan Wang Yonghai (Accounting Department, Wuhan University, Wuhan, Hubei 430072 );A Theoretical and Empirical Review on Synergy of Western Company' s M&A[J];Journal of Communication of Finance and Accounting;2005-01
10 DENG Da-song,WANG Zeng-wen(Center for Social Security Studies,Wuhan University,Wuhan 430072,China);Restrained Effect of Reputation Incentive Mechanism on the Incentive to Fund Investment Supervisors[J];Journal of Northeastern University(Social Science);2008-05
【Secondary References】
Chinese Journal Full-text Database 1 Hits
1 ZHOU Ai-bao,ZHAO Xin(Institute of Education,Northwest Normal University,Lanzhou 730070,China);Decision Behavior and Cognitive Bias——A Review of Research on the Manager Overconfidence[J];East China Economic Management;2009-04
【Secondary Citations】
Chinese Journal Full-text Database 4 Hits
1 周小川;CURIE TEMPERATURE AND THE TEMPERATURE DEPENDENCE OF MAGNETIC PROPERTIES STUDY OF CoGa CONTAININGNANOMETERSCALE αFe/Nd2Fe14B EXCHANGECOUPLED RAREEARTH PERMANENT MAGNETS[J];COMPARATIVE ECONOMIC AND SOCIAL SYSTEMS;1999-07
2 Wei Gang;Incentives for Top-Management and Performance of Listed Companies[J];ECONOMIC RESEARCH JOURNAL;2000-03
3 Chen Xiao & Jiang Dong;Ownership Pluralization,Firm Performance and Industry Competition[J];ECONOMIC RESEARCH JOURNAL;2000-08
4 Yang Ruilong & Yang Qijing;Specificity, Exclusiveness and Enterprise Institution[J];Economic Research Journal;2001-03
©2006 Tsinghua Tongfang Knowledge Network Technology Co., Ltd.(Beijing)(TTKN) All rights reserved