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Firms, contracts, and financial structure by Oliver Hart

Firms, contracts, and financial structure Oliver Hart ebook
Publisher: OUP
Format: pdf
ISBN: 0198288816, 9780198288817
Page: 239

In the model, the general First, the firm should be financed by a combination of fund capital raised before deals are encountered, and capital that is raised to finance a specific deal. Another concern is that the redesign of the CEO contract could be driven by the change in capital structure, not by the strong principal. Regional authorities to restrict the range of activities or structure of banking. But if human capital is so important, elementary property rights economics tells us that workers, not capitalists, should control firms. Second, the fund investors' claim on fund cash flow is a combination of debt and levered equity, while the general partner receives a claim similar to the carry contracts received by real-world practitioners. But if the trigger is the firm's capital ratio dipping below a high threshold, the bond is in fact for recovery not for handling abject distress. Hart, Oliver, Firms, Contracts and Financial Structure, Oxford: Clarendon. Hilborn, Robert C., “Sea Gulls, Butterflies, and Grasshoppers: A Brief. If, at the other end of the spectrum, the trigger is falling below a low capital ratio,. This paper presents a model of the financial structure of private equity firms. Firms, Contracts, and Financial Structure. Those measures need to be taken without the world slipping into a hard-to-reverse balkanisation of the international financial system. "This book, which synthesizes most of Oliver Hart's work since 1980, provides a clear introduction to the modern theory of the firm, and ultimately a very compelling answer to.