Agency and Optimal Investment Dynamics
By Peter M. DeMarzo, Michael J. Fishman. 2003
266 citations recorded by the source corpus.
Subfields: Accounting, Economics and Econometrics, Finance
View Paper: https://www.semanticscholar.org/paper/20a65b7dcb06b694d20073feb2245367a4000f71
How researchers see this paper
The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.
In Accounting
- Zhiguo He
- Xavier Gabaix
- Alex Edmans
- Neng Wang
- Tomasz Piskorski
- Alexei Tchistyi
- Andrea L. Eisfeldt
- Peter M. DeMarzo
In Economics and Econometrics
- Zhiguo He
- Alex Edmans
- Tomasz Piskorski
- Alexei Tchistyi
- Yuliy Sannikov
- Andrea L. Eisfeldt
- Xavier Gabaix
- Neng Wang
In Finance
- Zhiguo He
- Xavier Gabaix
- Tomasz Piskorski
- Alexei Tchistyi
- Neng Wang
- Alex Edmans
- Yuliy Sannikov
- Peter M. DeMarzo
Citations in the corpus
- Stock-Based Compensation and CEO (Dis)Incentives (2008, unknown): “Gτ ∗+g(t−τ ∗) for t ≥ τ ∗, ( 10 ) P bef ore”
- Optimal Mortgage Design (2010, methodology): “This paper belongs to the growing literature on dynamic optimal security design, which is a part of the literature on dynamic optimal contracting models using recursive techniques that began with Green (1987), Spear and Srivastava (1987), Abreu, Pearce, and Stacchetti (1990), and Phelan and Townsend”
- Dynamic CEO Compensation (2012, methodology): “The Euler equation contrasts with the Inverse Euler Equation (IEE), which applies to agency problems without the possibility of private saving and thus the PS constraint, when utility is additively separable in consumption and e¤ort (e.g., Rogerson (1985) and Farhi and Werning (2009)).”
- Executive Compensation: A Survey of Theory and Evidence (2017, unknown): “61The dynamic moral hazard models of DeMarzo and Sannikov (2006), DeMarzo and Fishman (2007), and Biais, Mariotti, Plantin, and Rochet (2007) assume risk neutrality, and so consumption smoothing is a non-issue.”
- CEO Turnover in a Competitive Assignment Framework (2013, background): “9See, for example, DeMarzo and Fishman (2007), He (2012), DeMarzo, Fishman, He, and Wang (2012), Sannikov (2008), and Lustig, Syverson, and Van Nieuwerburgh (2011).”
- Market Timing, Investment, and Risk Management (2012, unknown): “Taken together, these two results provide a plausible explanation for the Dittmar and Dittmar (2008) finding that equity issuance waves coincide with stock repurchase waves.”
- Dynamic Agency and the q Theory of Investment (2012, methodology): “We may endogenize the liquidation paramter l via specifications such as costly replacement of the incumbent agent, as in DeMarzo and Fishman (2007) and DeMarzo and Sannikov (2006).”