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role of top managers. The paper also investigates the mechanism of how top management can affect corporate innovation …
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Managers of firms with excess cash tend to misuse it. We extend the Radner-Shepp- Shiryaev framework, to create an … incentive mechanism (the ‘carrot') to motivate managers to pay out the cash instead. The problem cannot be solved in closed …
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managers' compensation contracts are reset favorably. We provide support for the theory that compensation contracts that offer …
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relationship, with patents and citations to patents. Finally, we show that subsequent to project failure managers' compensation …
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