The Dynamic Game Analysis of Managers’ Investment Volume of Innovation Project under Financial Constraint Condition

DOI

10.2991/emeeit-15.2015.70How to use a DOI?

Keywords

Innovation; financial constraint; dynamic game

Abstract

Studying the reasons for the underinvestment of innovation project is a hot topic in corporate finance. Based on the study and analysis of dynamic models between investors and managers, this paper reveals that managers cut down the investment volume of innovation project under financial constraint condition; agency problem can enlarge the degree of underinvestment under financial constraint condition. These game results are also proved by examples.

Copyright

© 2015, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Meini Han
AU  - Fusheng Wang
PY  - 2015/11
DA  - 2015/11
TI  - The Dynamic Game Analysis of Managers’ Investment Volume of Innovation Project under Financial Constraint Condition
BT  - Proceedings of the 2015 International conference on Engineering Management, Engineering Education and Information Technology
PB  - Atlantis Press
SP  - 361
EP  - 367
SN  - 2352-538X
UR  - https://doi.org/10.2991/emeeit-15.2015.70
DO  - 10.2991/emeeit-15.2015.70
ID  - Han2015/11
ER  -