Research Discussion Paper – RDP 9311 Agency Costs, Balance Sheets and the Business Cycle
November 1993
- Abstract
- Download the Paper 115KB
Contents
- Introduction
- Agency Costs, Credit Supply and Credit Demand: A Review
- A Model of Managerial Incentives
- Some Empirical Evidence
- Conclusions
- Data Appendix
- References
The views expressed in this paper are ours alone and do not necessarily reflect the views of the Reserve Bank of Australia. We are grateful to Warren Tease, Gordon de Brouwer and participants at seminars at the Reserve Bank of Australia and the University of Sydney for helpful comments and suggestions.