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Comment: Haugen and Senbet Paper

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  • Kalay, Avner

Abstract

Haugen and Senbet address several interesting issues, such as: a costless solution, with the use of options, to the agency problem and the incorporation of informational asymmetry into the agency problem, as well as the use of options to convey information. I'll start my discussion on their paper by providing general comments which are followed by some clarifying comments on the authors' argument for signaling with options.

Suggested Citation

  • Kalay, Avner, 1979. "Comment: Haugen and Senbet Paper," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 14(4), pages 711-714, November.
  • Handle: RePEc:cup:jfinqa:v:14:y:1979:i:04:p:711-714_00
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