Kontrak Implisit dan Biaya Agensi Hutang

Adrian Teja
Journal article Bina Ekonomi • 2003

Unduh teks lengkap
(Bahasa Indonesia)


We argue that implicit contract is effective to reduce the agency cost of debt in good or bad condition. Implicit contract is based on trust Since trust are built from frequent interaction in a long period of time then the lender and the borrower will have an incentive to nurture the trust Reduce uncertainty can reduce contracting costs, reduce monitoring cost, and increasing the accuracy of the debt valuation.


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