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Companies in the United States are staying private longer, and this trend has important implications for companies and their employees. Employees holding equity awards in private companies are restricted from monetizing an illiquid asset that they might need to support their living expenses....
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test and analyze the effect of overconfidence and herding on investors' decision to transact their stocks. This study … concludes that overconfidence is the only determinant having a positive effect on the decision to invest …
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