Inthe agency theory of the firm, Jensen and Mackling (1976) defmes the corporatlons as legal fictions which serve as a nexus for a set of contraeting relationslıips among individuals. 1 The agency costs explanation of the theory of the fımı helps us ID understand better the nabJre of the relationships among owners, managers, debtbolders. employees, suppliers, costwners and the regulatory power. In another seminal paper, Black and Scholes (1973) provides a tey to the valuation of contingent claims which, like options, have payoffs that are contingellt on the future value of another asset
Birincil Dil | İngilizce |
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Bölüm | Araştırma Makaleleri |
Yazarlar | |
Yayımlanma Tarihi | 1 Ocak 1995 |
Gönderilme Tarihi | 31 Temmuz 2014 |
Yayımlandığı Sayı | Yıl 1995 Cilt: 50 Sayı: 01 |