leveraged recapitalizations and asset sales by the target management are all counter-forces to high bidder leverage, thereby …

An iconic model with high leverage and overvalued collateral assets is used to illustrate the amplification mechanism …

instrument for addressing the agency problem between managers and shareholders but also as part of the agency problem itself … managers. As a result, managers wield substantial influence over their own pay arrangements, and they have an interest in … reducing the saliency of the amount of their pay and the extent to which that pay is de-coupled from managers’ performance. We …

constraints that act on these processes, leave managers with considerable power to shape their own pay arrangements. Examining the …

political risk. We focus on two choice variables, the leverage and the ownership structure of the foreign affiliate, and we … analysis we find that, as political risk increases, the ownership share always decreases, whereas leverage can both increase or …

higher leverage if they are privately-controlled and if they are regulated by an independent regulatory agency. Moreover, we … find that the leverage of these firms has a positive and significant effect on their regulated prices, but not vice versa … privately-controlled firms use leverage strategically to shield themselves against regulatory opportunism. …