PRINCIPAL-AGENT PREFERENCES IN IMPERFECT MARKET: THEORETICAL ANALYSIS ON MURABAHAH AND IJARAH
This paper aims to determine the optimal contract for the principal and the agent in imperfect market, when murabahah and ijarah are used. The financial contracting enforceability approach is employed to determine the contract that maximizes the value of the firm subject to agents’ constraints when...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Bank Indonesia
2019-05-01
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| Series: | Journal of Islamic Monetary Economics and Finance |
| Subjects: | |
| Online Access: | http://jimf-bi.org/index.php/JIMF/article/view/1050 |