| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP1155 |
| DP1155 Factor Price Distortions and Public Subsidies in East Germany | |
| Hans-Werner Sinn | |
| 发表日期 | 1995-05-31 |
| 出版年 | 1995 |
| 语种 | 英语 |
| 摘要 | We investigate the nature of monitoring by stake holders using data on Japanese manufacturing firms. Shareholders and bank-centred corporate groups monitor firms by reducing activities with scope for managerial moral hazard such as advertising, R&D and entertainment expenses. Monitoring of this type takes place even when the monitored firm is not in financial distress. Although in Japan it is difficult to distinguish empirically between monitoring motivated by debt and monitoring motivated by equity stake, the data indicate that shareholders monitor firms continuously, while debt holders may intervene when firm performance is poor. |
| 主题 | Financial Economics |
| 关键词 | Banks Japanese corporate groups Large shareholders Managerial moral hazard Monitoring |
| URL | https://cepr.org/publications/dp1155 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/530308 |
| 推荐引用方式 GB/T 7714 | Hans-Werner Sinn. DP1155 Factor Price Distortions and Public Subsidies in East Germany. 1995. |
| 条目包含的文件 | 条目无相关文件。 | |||||
| 个性服务 |
| 推荐该条目 |
| 保存到收藏夹 |
| 导出为Endnote文件 |
| 谷歌学术 |
| 谷歌学术中相似的文章 |
| [Hans-Werner Sinn]的文章 |
| 百度学术 |
| 百度学术中相似的文章 |
| [Hans-Werner Sinn]的文章 |
| 必应学术 |
| 必应学术中相似的文章 |
| [Hans-Werner Sinn]的文章 |
| 相关权益政策 |
| 暂无数据 |
| 收藏/分享 |
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
