New Perspectives on Informational Asymmetry and Agency Relationships

Robert A. Haugen and Lemma W. Senbet

Journal of Financial and Quantitative Analysis, 1979, vol. 14, issue 4, 671-694

Abstract: The two related problems of agency and informational asymmetry have received increasing attention in finance. In particular, prominent authors in this area (e.g., Jensen and Meckling [7], Ross [15, 16], Leland and Pyle [10], etc.) have demonstrably argued that the financial structure of the firm can be determined in the process of eliminating, or at least reducing, the costs associated with these problems.

Date: 1979
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