Fahlenbrach, Rüdiger; Stulz, René M. - 2009
-Charles Rochet, Myron Scholes, Lemma Senbet, and seminar and conference participants at the
European School of Management and … have
considered that management’s interests are better aligned with those of shareholders when
managers’ compensation … more weight on short-run results and misvaluation could create pressure on
management to take actions it would not take in …