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financial incentives vis-à-vis directors and officers to act with due care – the moral hazard. As a result, the preventive … ensure that the moral hazard is optimally addressed and that the incentives for careful acts of management from liability law …
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. Moreover, the results indicate that strong incentives in capital market divisions induced excessively high risks in the capital …
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This paper contributes to the empirical literature on the co-determination - firm performance nexus by using a new type of data that combines information on the co-determination status of enterprises from a commercial data base and supplementary information collected from the firms with...
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