This paper reviews theoretical and empirical work on financial contracting that is relevant to
accounting researchers. Its primary objective is to discuss how the use of accounting …

This paper reviews the significant progress in “agency theory”(ie, the economic theory of
incentives) during the 1990s, with an eye toward applications to supply transactions. I …

The green bond market is attracting new issuers and a more diversified base of investors.
However, the size of the green bond market remains small compared to the challenges it is …

Global Production is the first book to provide a fully comprehensive overview of the
complicated issues facing multinational companies and their global sourcing strategies. Few …

This book provides a framework for thinking about economic instiutions such as firms. The
basic idea is that institutions arise in situations where people write incomplete contracts and …

The paper analyzes the organization of the R&D activity in an incomplete contract
framework. It provides theoretical foundations:(a) to understand how the allocation of …

The theory of human capital is agnostic on what constitutes firm-specific skills. The theory
specifies that specific skills contribute to productivity only at the current firm. A broader …

Roughly one-third of world trade is intrafirm trade. This paper starts by unveiling two
systematic patterns in the volume of intrafirm trade. In a panel of industries, the share of …

The paper takes stock of the advances and directions for research on the incomplete
contracting front. It first illustrates some of the main ideas of the incomplete contract literature …

We analyze the consequences of control on motivation in an experimental principal-agent
game, where the principal can control the agent by implementing a minimum performance …