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Efficient Market Hypothesis An
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The quote shows a strong relation to the efficient market hypothesis (EMH), as it implies that the costs of capital are dependent from the amount of information given by the company.
According to my opinion, agency theory is a good explanation for costs of capital. Agency theory defines contracts as under which one party – called principal & ....
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.... by installing mechanisms to guarantee that they will behave in the interest of the principal or by proposing to compensate principals for their losses.
(2) The mechanisms mentioned above are bonding costs, because they are the costs of bonding the agent’s interest to the principal’s. Quarterly financial reports are bonding costs, namel.... |
| Word count: 2757 |
Page count: 11 |
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