Detail A Heuristic for Determining Budget-Based Contracts in Multi-Period Settings   Oleh:  Schroeder, Douglas A. Jenis: Article from Bulletin/Magazine Dalam koleksi: Journal of Management Accounting Research vol. 4 (1992), page 156-178. Topik: budget; heuristic; budget - based contracts; multi - period settings Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ36.1 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel This paper analyzes the principal's choice of budget - based contracts in a multi - period setting. In particular, two budget - based contracts are considered in which performance standards are used to evaluate the cost performance of managers who are rewarded by predetermined bonus amounts : (1) a "bang - bang" contract and (2) a conditional investigation contract. Agent preferences are assumed to be stochastic and time dependent to more faithfully capture multi - period agency conflicts. A simple, decision heuristic for the principal's choice of budget - based contracts in a multi - period setting is developed. The heuristic involves treating the agent's behaviour as a stochastic variable that is related to the performance standard and minimizing the principal's expected long - run costs using a simple "steady - state" Markovian solution. Numerical analyses suggest that the heuristic makes "reasonably" efficient trade - offs between budget - based contract parameters (bonus amounts and performance standards) relative to an optimal benchmark for the cost processes examined. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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