Equilibrium corporate finance

Guido Ruta and Piero Gottardi
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Guido Ruta: NYU

No 149, 2009 Meeting Papers from Society for Economic Dynamics

Abstract: In the final sections of the paper we introduce informational asymmetries between the decision maker in the firm (e.g., the manager) and shareholders or equityholders, as in standard corporate finance models. We show that the unanimity and constrained efficiency properties continue to hold with asymmetric information. This is the case both with moral hazard and adverse selection.

Date: 2009
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Working Paper: Equilibrium Corporate Finance (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:red:sed009:149

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