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Risk Sharing and the Theory of the Firm
9 references·15 citing·41 second hop
Risk Sharing and the Theory of the Firm (1982)Risk Sharing and the Theory of the FirmTheory of rational option pricing (2005)Theory of rational option pri…Risk Sharing and Incentives in the Principal and Agent Relationship (1979)Risk Sharing and Incentives i…Moral Hazard and Observability (1979)Moral Hazard and ObservabilityTheory of the firm: Managerial behavior, agency costs and ownership structure (1976)Theory of the firm: Manageria…Option pricing (1976)Option pricingPrice performance of common stock new issues (1975)Price performance of common s…On the Optimality of the Stock Market Allocation of Investment (1972)On the Optimality of the Stoc…Corporate Investment under Uncertainty and Pareto Optimality in the Capital Markets (1972)Corporate Investment under Un…The Market Price of Risk, Size of Market and Investor's Risk Aversion (1970)The Market Price of Risk, Siz…Applied economics and understanding trends in air transportation policy (2019)Applied economics and underst…When do high‐level managers believe they can influence the stock price? Antecedents of stock price expectancy cognitions (2010)When do high‐level managers b…Quo Vadis? Suggestions for future corporate governance research (2008)Quo Vadis? Suggestions for fu…Institutional Ownership and Accounting Transparency (2008)Institutional Ownership and A…Do the contingencies of external monitoring, ownership incentives, or free cash flow explain opposing firm performance expectations? (2008)Do the contingencies of exter…Do the contingencies of external monitoring, ownership incentives, or free cash flow explain opposing firm performance expectations? (2008)Do the contingencies of exter…Incentive Efficient Control of a Make-to-Stock Production System (2003)Incentive Efficient Control o…Behavioral Responses of CEOs to Stock Ownership and Stock Option Pay (2001)Behavioral Responses of CEOs …The Relative Performance Puzzle (2000)The Relative Performance Puzz…Incentive structure of CEO stock option pay and stock ownership: the moderating effects of firm risk (1999)Incentive structure of CEO st…Entrepreneurial Resources, Organizational Choices, and Competitive Outcomes (1998)Entrepreneurial Resources, Or…The Effects of Incentive Compensation Contracts on the Risk and Return Performance of Commodity Trading Advisors (1993)The Effects of Incentive Comp…Bankruptcy risk, firm-specific managerial human capital, and diversification (1992)Bankruptcy risk, firm-specifi…Fixed Price Versus Spot Price Contracts: A Study in Risk Allocation (1986)Fixed Price Versus Spot Price…Optimal Hedging Policies (1984)Optimal Hedging PoliciesEssays in the Theory of Risk-Bearing. (1972)The Economic Theory of Agency: The Principal's Problem. (1973)Markets and Hierarchies: Analysis and Antitrust Implications. (1976)Moral Hazard in Teams (1982)Financial Intermediation and Delegated Monitoring (1984)Agency Costs, Net Worth, And Business Fluctuations (1988)The Random Character of Stock Market Prices (1968)THE RELATIONSHIP BETWEEN PUT AND CALL OPTION PRICES (1969)EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)ON THE PRICING OF CORPORATE DEBT: THE RISK STRUCTURE OF INTEREST RATES* (1974)Coherent Measures of Risk (1999)The Pricing of Options and Corporate Liabilities (1973)An analytic derivation of the cost of deposit insurance and loan guarantees An application of modern option pricing theory (1977)Martingales and stochastic integrals in the theory of continuous trading (1981)Theory of Financial Decision Making. (1988)The Cost of Capital, Corporation Finance and the Theory of Investment (1958)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)The option pricing model and the risk factor of stock (1976)Capital market equilibrium in a mean-lower partial moment framework (1977)Capital Markets: Theory and Evidence (2003)A Theory of the Term Structure of Interest Rates (1985)The theory of financial intermediation (1997)The dark side of diversification: The case of US financial holding companies (2005)Originate-to-Distribute Model and the Subprime Mortgage Crisis (2010)Firm Resources and Sustained Competitive Advantage (1991)Self-Efficacy: The Exercise of Control (1999)Cultural entrepreneurship: stories, legitimacy, and the acquisition of resources (2001)Internal capabilities, external networks, and performance: a study on technology‐based ventures (2001)Social Entrepreneurship: Why We Don't Need a New Theory and How We Move Forward From Here (2010)The Nature of the Firm (1937)Separation of Ownership and Control (1983)Corporate financing and investment decisions when firms have information that investors do not have (1984)An Integrative Model Of Organizational Trust (1995)Credit Rationing in Markets with Imperfect Information (1981)Martingales and arbitrage in multiperiod securities markets (1979)The Contributions of the Economics of Information to Twentieth Century Economics (2000)Information and the Change in the Paradigm in Economics (2002)Why new issues are underpriced (1986)The Long-Run Performance of Initial Public Offerings (1991)Trading Is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors (2000)
this work references cited by second hop

References

  • 1976Theory of the firm: Managerial behavior, agency costs and ownership structure71,441 cited
  • 1979Moral Hazard and Observability8,358 cited
  • 2005Theory of rational option pricing7,183 cited
  • 1975Price performance of common stock new issues1,361 cited
  • 1979Risk Sharing and Incentives in the Principal and Agent Relationship1,285 cited
  • 1976Option pricing474 cited
  • 1972On the Optimality of the Stock Market Allocation of Investment207 cited
  • 1972Corporate Investment under Uncertainty and Pareto Optimality in the Capital Markets107 cited
  • 1970The Market Price of Risk, Size of Market and Investor's Risk Aversion91 cited

Cited by

  • 1984Optimal Hedging Policies939 cited
  • 1998Entrepreneurial Resources, Organizational Choices, and Competitive Outcomes214 cited
  • 2008Quo Vadis? Suggestions for future corporate governance research52 cited
  • 2003Incentive Efficient Control of a Make-to-Stock Production System47 cited
  • 2001Behavioral Responses of CEOs to Stock Ownership and Stock Option Pay35 cited
  • 1986Fixed Price Versus Spot Price Contracts: A Study in Risk Allocation28 cited

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  • 2008Do the contingencies of external monitoring, ownership incentives, or free cash flow explain opposing firm performance expectations?23 cited
  • 1992Bankruptcy risk, firm-specific managerial human capital, and diversification19 cited
  • 1999Incentive structure of CEO stock option pay and stock ownership: the moderating effects of firm risk19 cited
  • 1993The Effects of Incentive Compensation Contracts on the Risk and Return Performance of Commodity Trading Advisors19 cited
  • 2008Do the contingencies of external monitoring, ownership incentives, or free cash flow explain opposing firm performance expectations?15 cited
  • 2000The Relative Performance Puzzle15 cited
  • 2019Applied economics and understanding trends in air transportation policy13 cited
  • 2010When do high‐level managers believe they can influence the stock price? Antecedents of stock price expectancy cognitions12 cited
  • 2008Institutional Ownership and Accounting Transparency11 cited