منابع مشابه
Dynamic Financial Contracting with Persistence
We study a setting in which a principal provides an agent with funds to operate a rm. The agent is liquidity constrained and privately observes the revenue of the rm. In other words, the agent can divert revenue to projects that bene t only him. Time is discrete and in nite, and revenues are subject to stochastic shocks that are persistent over time. As in the iid case studied by Clementi and H...
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Financial markets crucially rely on the development of an infrastructure dedicated to the enforcement of contracts. Here we study the effects of limited enforcement capacity on financial contracting by proposing a new theory of costly state verification. In our model the principal contracts with a population of entrepreneurs, who borrow to finance risky projects under limited liability. To sust...
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This paper aims to (1) analyze the profiles of transgressors (detected evaders); (2) examine reason(s) that triggered a tax audit, causes of tax evasion, audit timeframe and tax penalty charged; and (3) to assess if tax auditors followed the guidelines as stated in the ‘Tax Audit Framework’ when conducting tax audits. In 2011, the Inland Revenue Board Malaysia (IRBM) had audited and finalized 5...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2014
ISSN: 1556-5068
DOI: 10.2139/ssrn.2375604