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work on shareholders and shareholder activism, directors, executives and their compensation, controlling shareholders …
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management and governance that deserves the attention of researchers …
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Both managerial ownership and performance are endogenously determined by exogenous (and only partly observed) changes in the firm's contracting environment. We extend the cross-sectional results of Demsetz and Lehn (1985) and use panel data to show that managerial ownership is explained by key...
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