which managers could become entrenched, they already bear a large proportion of the costs and have therefore an incentive to …

influence of institutional shareholders. Our findings also suggest that the adoption of ESG variables in managerial performance …

management position. However, if non-contractible managerial decision rights give rise to private benefits and preference … misalignment between managers and the firm, these two purposes are in conflict. This is because the worker with the largest private …: employees that create lower expected profits as managers have yet better promotion prospects. That finding still holds when the …