Title:

Rola leasingu w warunkach asymetrii informacji

Group publication title:

Prace Naukowe Akademii Ekonomicznej im. Oskara Langego we Wrocławiu

Title in english:

The Role of Leasing under Asymmetric Information

Creator:

Kałdoński, Michał

Description:

Prace Naukowe Akademii Ekonomicznej we Wrocławiu; 2006; nr 1109, s. 296-304

Abstrakt:

In this paper the author shows a rationale for leasing in a setting of asymmetric information where the lessor (manufacturer of capital good) has private information of the asset he leases to the lessee I (user of capital good).The lessee, however, can learn about the quality of his good over the time as he uses the asset. Thus, leasing emerges as a way of mitigating the adverse selection problem. However, another problem is that, since the lessee does not have rights to the residual value of the asset, he has an incentive to use the asset in such a way that he shifts value from the lessor to the lessee. One possibility is that various lessees have different cost of maintaining the capital good. In this case, the higher maintenance cost users have an incentive to devote less care to the maintenance than lower maintenance cost users. Leasing contracts with different provisions can emerge as an equilibrium solution to this double-sided asymmetric information problem in the capital goods market.

Publisher:

Wydawnictwo Akademii Ekonomicznej im. Oskara Langego we Wrocławiu

Place of publication:

Wrocław

Date:

2006

Resource Type:

artykuł

Language:

pol

Relation:

Prace Naukowe Akademii Ekonomicznej im. Oskara Langego we Wrocławiu; 2006; nr 1109 ; Zarządzanie finansami firm - teoria i praktyka

Rights:

Wszystkie prawa zastrzeżone (Copyright)

Access Rights:

Dla wszystkich w zakresie dozwolonego użytku

Location:

Uniwersytet Ekonomiczny we Wrocławiu

Coverage:

Projekt dofinansowany ze środków budżetu państwa, przyznanych przez Ministra Nauki w ramach Programu Społeczna odpowiedzialność nauki II. Tytuł projektu: Nauka dla Społeczeństwa: Prace Naukowe AEW w otwartym dostępie (2005-2008)