Teuber, Silvia; Backes-Gellner, Uschi; Ryan, Paul; … - Institut für Strategie und Unternehmensökonomik … - 2011
This paper considers whether listed companies with dispersed ownership invest less in training than do other firms, as part of a short-termist stance caused by pressure from the stock market. An analytical framework that supports the proposition involves three factors: high agency costs between...