Testing Agency Theory with Entrepreneur Effort and Wealth

We develop a principal-agent model in an entrepreneurial setting and test the model's predictions using unique data on entrepreneurial effort and wealth in privately held firms. Accounting for unobserved firm heterogeneity using instrumental-variables techniques, we find that entrepreneurial ow...

Full description

Saved in:
Bibliographic details
Volume: 60
Main Author: Marianne P. Bitler
Tobias J. Moskowitz
Annette Vissing-Jørgensen
Format: Journal Article
Language: English
Zielgruppe: Academic
Place of publication: 350 Main Street, Malden, MA 02148, USA, and 9600 Garsington Road, Oxford OX4 2DQ, UK Blackwell Publishers 01.04.2005
Blackwell Publishing
WILEY
Wiley Subscription Services, Inc
published in: The Journal of finance (New York) Vol. 60; no. 2; pp. 539 - 576
Data of publication: 20050401
ISSN: 0022-1082
1540-6261
EISSN: 1540-6261
Discipline: Business
Economics
Subjects:
Online Access: Fulltext
Database: Social Sciences Citation Index
Web of Science - Social Sciences Citation Index - 2005
Web of Knowledge
Web of Science
CrossRef
Academic OneFile (A&I only)
Database information Databases - DBIS