In recent years there has been a significant increase of interest in continuous-time Principal-
Agent models, or contract theory, and their applications. Continuous-time models provide a …

In a world in which rational individuals may hold different prior beliefs, a sender can
influence the behavior of a receiver by controlling the informativeness of an experiment …

Based on two samples of high quality personality data for chief executive officers (CEOs), we
use linguistic features extracted from conferences calls and statistical learning techniques to …

One of the fastest-growing areas of finance research is the study of managerial biases and
their implications for firm outcomes. Since the mid-2000s, this strand of behavioral corporate …

Abstract Behavioral Corporate Finance provides new and testable explanations for long-
standing corporate-finance puzzles in mergers, investment-cash flow sensitivity, and fads in …

We solve a long‐term contracting problem with symmetric uncertainty about the agent's
quality and a hidden action of the agent. As information about quality accumulates …

Capital budgeting is the process by which firms determine how to invest their capital.
Included in this process are the decisions to invest in new projects, reassess the amount of …

This study investigates the effects of information asymmetries and asset valuation model
differences (investor heterogeneity) between foreign and domestic investors on their distinct …

This paper builds a dynamic trade-off model of corporate financing with differences in belief
between the insider manager and outside investors. The optimal leverage depends on …

We propose discrete time asset trading framework based on quantum probability formalism
that represents well the ambiguity of agents in respect to the fundamental values and price …