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"We propose and test a catering theory of nominal stock prices. The theory predicts that when investors place higher valuations on low-price firms, managers will maintain share prices at lower levels, and vice-versa. Using measures of time-varying catering incentives based on valuation ratios,...
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public fund management practices, focusing on ways to formulate and build a strong governance structure for managing the … pension funds, to highlight similarities and differences between these. We also explore how their management structure relates …
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