Professor Lambert provides a very useful synthesis of the major issues in managerial accounting and the insights that agency theory has provided on those issues. In this discussion, I highlight some of the limitations of these models in examining accounting measurement questions. Lambert calls for additional work in multiperiod contracting models, and I discuss some of the modeling choices that must be made in such work. Finally, I present some thoughts on the relation between contract models and empirical research. © 2001 Elsevier Science B.V.
CITATION STYLE
Magee, R. P. (2001). Discussion of “Contracting theory and accounting.” Journal of Accounting and Economics, 32(1–3), 89–96. https://doi.org/10.1016/S0165-4101(01)00020-9
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