Moral hazard’s Problem and Optimal Contract Design：A Case of Delegated Portfolio Management of mutual funds
碩士 === 國立雲林科技大學 === 財務金融系碩士班 === 92 === We study delegated portfolio management in which an agent controls the riskiness of the portfolio. Under general conditions, we show that the optimal contract is simply a bonus contract：the agent is paid a fixed sum if the portfolio return is above a threshold...
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| Format: | Others |
| Language: | zh-TW |
| Published: |
2004
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| Online Access: | http://ndltd.ncl.edu.tw/handle/63126836980856060835 |