Page info: *Author:Mathiesen, H. *Document version:2.5. *Copyright 1997-2019, H. Mathiesen.Legal notice.


Exhibition: The financial system and its agency relations


Introduction: The arrows represent capital flows. The corporate governance literature usually focuses on relation [3] and [4]. Indeed, relation [3] is becoming more important since financial institutions finance an increasing fraction of the average firmís capital - more than 50% in most OECD countries.


Terminology: Agents, Principals.

-Copyright 1997-2019, H. Mathiesen. Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.Legal notice.