Pigé, Benoît - In: Revue Finance Contrôle Stratégie 1 (1998) 3, pp. 131-158
The CEO, as an agent, tries to be better entrenched, in order to reduce the risk of being dismissed. Our entrenchment … estimate the importance of internal networks and past performance by establishing a measure of CEO entrenchment. Furthermore …, we observed, for the shareholders, the existence of an optimum of CEO entrenchment. …