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governance policies, such as managerial pay, and curbing competition. We study a model where managers can exert unobservable cost …
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to be incompatible with the fact that the bulk of many high-proffile managers' compensation is in the form of various …
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Contrary to previous literature we hypothesize that labor's interest may well – like that of shareholders – aim at securing the long-run survival of the firm. Consequently, employee representatives on the supervisory board could well have an interest in increasing incentive-based...
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