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This paper uses a unique US dataset to analyze the demand for Directors' and Officers' liability insurance. This insurance protects managers mostly from shareholder litigation. Corporate insurance presents a much different environment than individual insurance and calls for in-depth empirical...
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committees, which would have certain oversight functions and act as a communication link between shareholders and management. To … not going to mitigate the collective action problem of shareholders, and they are unlikely to reduce managerial agency … of public companies to have a shareholder committee. Nevertheless, given that shareholders will both bear the costs and …
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