A remark on managerial behaviour and agency cost

Zhihui Gu and Qingyuan Zhang

Quantitative Finance, 2007, vol. 7, issue 5, 483-485

Abstract: This paper studies the relationship between managers' private profit and agency cost using dynamic modelling methods. We conclude that the agency cost is a concave function of the managers' private profit and that the managers' private profit will lead to more investment cash outflow.

Keywords: Agency cost; Managerial behaviour; Private profit (search for similar items in EconPapers)
Date: 2007
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DOI: 10.1080/14697680601038803

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