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Strong corporate governance may bear some costs to shareholders when it leads to the departure of value-enhancing CEOs …
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Strong corporate governance may bear some costs to shareholders when it leads to the departure of value-enhancing CEOs …
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's liquidity levels and the collective propensity of shareholders and managers to reduce cash flow risk. We also discuss the firm …. Shareholders trade off the cost of dismissing the manager with the cost of managerial discretion over the use of liquid funds. An …
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