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(2017)"269 },270 {271 "claim": "Debt optimality in Hart and Moore is not robust once the model is generalized",272 "evidence_type": "figure",273 "evidence_ref": "Section VII, Figure 11"274 }275 ],276 "structural_summary": "Theoretical corporate finance paper. The introduction motivates the problem with key-man risk, states the new theory of liquidity and risk management, and previews the policy distortions. It then gives extended positioning against Hart-Moore, Ai-Li, Rampini-Viswanathan and the limited-commitment and compensation literatures, and ends with a roadmap. The body sets up the model, derives the first-best and the constrained solution, and shows equivalence to a dual contracting problem. A calibrated quantitative section then presents policy functions in figures. Extensions cover persistent shocks, the deterministic Hart-Moore case and two-sided commitment. The conclusion restates the mechanism and suggests future work. Proofs are in appendices.",277 "writing_profile_keywords": [278 "continuous-time dynamic contracting",279 "limited commitment",280 "primal-dual equivalence",281 "calibrated numerical illustration",282 "extensive literature positioning",283 "extensions sections",284 "policy function figures"285 ],286 "confidence": 0.85,287 "notes": "The quantitative section is a calibration-based illustration of the model rather than an empirical analysis. 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