A principal optimally preserves outside-finance exposure in the contract to screen types via non-pledgeable contingent transfers, with two sufficient statistics determining the advance share and explaining mixed payment forms across markets.
The dark side of internal capital markets: Divisional rent-seeking and inefficient investment
1 Pith paper cite this work. Polarity classification is still indexing.
1
Pith paper citing it
fields
econ.TH 1years
2026 1verdicts
UNVERDICTED 1representative citing papers
citing papers explorer
-
The Screening Cost of Liquidity
A principal optimally preserves outside-finance exposure in the contract to screen types via non-pledgeable contingent transfers, with two sufficient statistics determining the advance share and explaining mixed payment forms across markets.