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The motivation of this talk is to investigate what quantum resources will bring about in our daily life. A kind of quantization for general bipartite games is first given and then applied to both the modified classical “cash in a hat” game and modified Prisoners Dilemma game with different distribution policies. It is shown that quantum entanglement can bring full cooperation with the help of fair...
Beginning with information asymmetry between a development agency and its internal quality supervision department in the course of quality supervision over a rural development project, this paper analyzes the principal -- agent relationship between the development agency and its quality supervisors, as well as moral hazards which may arise from this relationship, and establishes a game model regarding...
With equity-based crowdfunding, an entrepreneur raises financing from a large number of individuals, instead of soliciting a small group of investors. This paper compares two forms of financing: the equity-based crowdfunding and the traditional loan form. We conclude that the equity-based crowdfunding can raises larger number of money for entrepreneurs than the traditional loan form owing to the entrepreneurs'...
In order to reveal the connection of equity distribution with retreat system on the part of project investment from the venture capitalists and to further reveal what other factors have been influencing the benefits from the project investment, a double moral hazard model has been designed in the paper concerning venture capitalists and the starting entrepreneurs based on various retreat systems....
The study divides the risks caused by enterprise human capital investment (EHCI) into two types: prediction risk and incentive risk, according to whether the risk reason is related to the subjectivity of the invested object or not. Then the study analyses the characteristics of the incentive risk, and sets forth the means to control the incentive risk as viewed from investment.
Agent construction system, as a new-style mode of project management, has been carried out in government investment project in recent years. The mercerization operation mode of agent construction system has considerably improved the level of project management. According to the analysis of the principle-agent relationship in government investment project, main risk and its cause of agent construction...
In the risk investment system, whether the double principal-agent relationship which is formed by different interest subjects can smoothly operate is the key to determine the success of risk investment, yet the issue of information asymmetry in the field is more serious than other industry, so that double principal-agent relationship formed in it exists huge risks. A series of binding agreements and...
This paper builds a private equity syndicators selection evaluation model base on risk-weight investment return using grey assessment. We analysis the impact factors exist in private equity syndicators' choice process. We come down these impact factors on reputation, organizational compatibility, resource complementarities and cost base the previous study. The 16 sub-indicators such as management...
Classic financial theory suggests that the external environment is effective, and there is no agent problem in corporate finance decision-making. However, actual market always deviates from the efficient market, corporate finance decision-making need to take into account manager's moral hazard. In this paper, we analyze the effect of capital structure on over-investment and on-the-job consumption...
This paper analyzed the asymmetric information between private equity firm and entrepreneurs. uses the approaches and models of game theory to analyze principal-agent problem between private equity firm and entrepreneurs. Find the higher risk aversion attitude will lead to lower incentive intensity to entrepreneurs under the fixed distribution proportion. The return of private equity firm is the decreasing...
In this paper the ability of effort and risk choice of fund manager are considered simultaneously and both are related together by model settings. Under the case of observable effort and unobservable effort respectively, the influence of benchmark on the parameters selection of incentive contract is studied. The research discovers that under the case of observable effort of manager the benchmark has...
Based on the game theory, this paper formulates the concession agreement as an incomplete contract model to investigate the effects of different ownership structures on the efficiency of Build-Operate-Transfer (BOT) project. If the ownership is attributed to the private sector, it has stronger incentive to engage in cost reduction investment. However, the moral hazard arises from the incompleteness...
This paper studies the interaction of credit loan game. In our model with subjective and objective dual credit risk, multi-channel financial mode, we present game equilibrium relationship of the enterprise, the non-banking financial institution and the bank. Then we give corresponding investment and financing policies, and in detailed explain following problems such as the impact of the enterprise's...
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