Deaccessioning and Agency Costs of Free Cash Flow in Manager's Hands: A Formal Model
The problem of agency costs of free cash flow in manager's hands has been firstly noted by Easterbrook and Jensen. We present one of the first attempts to formally model the problem in light of similar situation faced by managers of museums being allowed (or disallowed) to deaccession the artwo...
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| Format: | Article |
| Language: | English |
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University of Ljubljana
2014-12-01
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| Series: | Economic and Business Review |
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| Online Access: | http://www.ebrjournal.net/ojs/index.php/ebr/article/view/226/pdf_12 |