Can real options reduce moral hazards in profit and loss sharing contracts ? : a behavioural approach using game theory and agent based simulation
المؤلفون المشاركون
al-Faqir, Adil
Tkiouat, Muhammad
Fairchild, Richard
Pakgohar, Ali Rida
المصدر
Journal of Islamic Business and Management
العدد
المجلد 10، العدد 2 (31 ديسمبر/كانون الأول 2020)، ص ص. 284-302، 19ص.
الناشر
Riphah International University Riphah Centre of Islamic Business
تاريخ النشر
2020-12-31
دولة النشر
باكستان
عدد الصفحات
19
التخصصات الرئيسية
الملخص EN
In this paper, we try reducing the moral hazard of profit misreporting in Profit and Loss Sharing Contract (PLS).
In this kind of contracts , the corporate manager has a temptation to misreport profits which can lead to either project failing or to financiers receiving an unfair allocation of profits.
To help in solving this problem we propose a new model that includes a real option that gives the corporate manager (agent) the right, but not the obligation, to gradually buy shares in the corporation from the financier/bank.
We compare our results with the standard case of PLS without real options.
We show, using a multi-agent simulation (Netlogo) that embedding real options in the PLS contract can reduce the profit misreporting case.
The fact that PLS contracts are riskier compared to other forms of financing such as debt, provides an incentive for the creation of models that reduce their risk to capital providers.
Given the results obtained from our real options model, the latter could prove to be of practical use to financial institutions willing to engage in PLS financing.
نمط استشهاد جمعية علماء النفس الأمريكية (APA)
al-Faqir, Adil& Tkiouat, Muhammad& Fairchild, Richard& Pakgohar, Ali Rida. 2020. Can real options reduce moral hazards in profit and loss sharing contracts ? : a behavioural approach using game theory and agent based simulation. Journal of Islamic Business and Management،Vol. 10, no. 2, pp.284-302.
https://search.emarefa.net/detail/BIM-1429382
نمط استشهاد الجمعية الأمريكية للغات الحديثة (MLA)
al-Faqir, Adil…[et al.]. Can real options reduce moral hazards in profit and loss sharing contracts ? : a behavioural approach using game theory and agent based simulation. Journal of Islamic Business and Management Vol. 10, no. 2 (2020), pp.284-302.
https://search.emarefa.net/detail/BIM-1429382
نمط استشهاد الجمعية الطبية الأمريكية (AMA)
al-Faqir, Adil& Tkiouat, Muhammad& Fairchild, Richard& Pakgohar, Ali Rida. Can real options reduce moral hazards in profit and loss sharing contracts ? : a behavioural approach using game theory and agent based simulation. Journal of Islamic Business and Management. 2020. Vol. 10, no. 2, pp.284-302.
https://search.emarefa.net/detail/BIM-1429382
نوع البيانات
مقالات
لغة النص
الإنجليزية
الملاحظات
Includes appendix : p. 300-302
رقم السجل
BIM-1429382
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