This paper surveys the recent agency literature, emphasizing its managerial accounting
implications. The paper first describes and compares three branches of the agency …

The paper begins with a brief overview of the theory of incentives, with special attention to
issues that are important in the public sector, in general and human capital in particular. It …

This article studies the full equilibrium dynamics of an economy with financial frictions. Due
to highly nonlinear amplification effects, the economy is prone to instability and occasionally …

Stylized facts indicate that small firms are responsible for a disproportionate share of
innovative research. There are many possible explanations for this fact. The paper seeks to …

Motivating innovation is important in many incentive problems. This paper shows that the
optimal innovation‐motivating incentive scheme exhibits substantial tolerance (or even …

This paper studies optimal incentive contracts when workers have career concerns--
concerns about the effects of current performance on future compensation. We show that the …

The propositions that organization matters and that it is susceptible to analysis were long
greeted by skepticism by economists. One reason why this message took a long time to …

This new edition of the successful textbook Organization Theories discusses various
approaches to theory formation in organization research, offers a critical presentation of the …

This article identifies some of the major issues that have been examined in the literature on
incentives. The article begins by discussing the frictions that lie at the heart of incentive …

This paper investigates pure strategy sequential equilibria of repeated games with imperfect
monitoring. The approach emphasizes the equilibrium value set and the static optimization …