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theoretical model of shareholders, debtholders, depositors, and an executive suggests that 1) in principle, excessive risk taking … by the credit default swap spread), but 2) shareholders may be unable to commit to designing compensation contracts in …
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What makes a good leader? A good leader is able to coordinate his followers around a credible mission statement, which communicates the future course of action of the organization. In practice, leaders learn about the best course of action for the organization over time. While learning helps...
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