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~institution:"Center for the Study of Industrial Organisation"
~institution:"National Bureau of Economic Research"
~person:"Grundy, Bruce D."
~subject:"Executive board"
~subject:"Performance incentive"
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Executive Compensation and the Optimality of Managerial Entrenchment
Gorton, Gary
-
1996
through time, allowing for the possibility of replacing a shirking manager; firms have many
managers
, constraining the amount …
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