Uncertainty, Risk, and the Efficiencies of the Principal and the Agent: A Chance Constrained Data Envelopment Analysis Approach
المؤلفون المشاركون
Zhao, Linlin
Zha, Yong
Liang, Liang
المصدر
Mathematical Problems in Engineering
العدد
المجلد 2018، العدد 2018 (31 ديسمبر/كانون الأول 2018)، ص ص. 1-13، 13ص.
الناشر
Hindawi Publishing Corporation
تاريخ النشر
2018-10-22
دولة النشر
مصر
عدد الصفحات
13
التخصصات الرئيسية
الملخص EN
In a principal-agent relationship, although the principal (e.g., the investor) can control the inputs and decide the motivated payments to the agent (e.g., the top management team), she cannot have the ability to decide how many outputs she can be rewarded.
Since the motivated payments the agent gains from the principal are closely related to the uncertain outputs, they also have the characteristic of uncertainty.
Furthermore, the attitudes and behaviors of both parties, such as risk attitude of the principal/agent on the uncertainty of outputs/motivated payments, can have significant influence on the efficiencies of two parties and consequently affect the enthusiasm and effort of the agent.
To address this issue, chance constrained data envelopment analysis (DEA) approach is proposed.
Based on this stochastic approach, the measures of the principal’s efficiency, the agent’s efficiency, and the agent’s effort level are provided.
A case study of 16 China listed real estate companies validates our models and shows that the uncertainties of outputs and payments have significant influences on the efficiencies of the principal and the agent and the effort of the agent as well.
نمط استشهاد جمعية علماء النفس الأمريكية (APA)
Zhao, Linlin& Zha, Yong& Liang, Liang. 2018. Uncertainty, Risk, and the Efficiencies of the Principal and the Agent: A Chance Constrained Data Envelopment Analysis Approach. Mathematical Problems in Engineering،Vol. 2018, no. 2018, pp.1-13.
https://search.emarefa.net/detail/BIM-1209302
نمط استشهاد الجمعية الأمريكية للغات الحديثة (MLA)
Zhao, Linlin…[et al.]. Uncertainty, Risk, and the Efficiencies of the Principal and the Agent: A Chance Constrained Data Envelopment Analysis Approach. Mathematical Problems in Engineering No. 2018 (2018), pp.1-13.
https://search.emarefa.net/detail/BIM-1209302
نمط استشهاد الجمعية الطبية الأمريكية (AMA)
Zhao, Linlin& Zha, Yong& Liang, Liang. Uncertainty, Risk, and the Efficiencies of the Principal and the Agent: A Chance Constrained Data Envelopment Analysis Approach. Mathematical Problems in Engineering. 2018. Vol. 2018, no. 2018, pp.1-13.
https://search.emarefa.net/detail/BIM-1209302
نوع البيانات
مقالات
لغة النص
الإنجليزية
الملاحظات
Includes bibliographical references
رقم السجل
BIM-1209302
قاعدة معامل التأثير والاستشهادات المرجعية العربي "ارسيف Arcif"
أضخم قاعدة بيانات عربية للاستشهادات المرجعية للمجلات العلمية المحكمة الصادرة في العالم العربي
تقوم هذه الخدمة بالتحقق من التشابه أو الانتحال في الأبحاث والمقالات العلمية والأطروحات الجامعية والكتب والأبحاث باللغة العربية، وتحديد درجة التشابه أو أصالة الأعمال البحثية وحماية ملكيتها الفكرية. تعرف اكثر