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governance policies, such as managerial pay, and curbing competition. We study a model where managers can exert unobservable cost …
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governance policies, such as managerial pay, and curbing competition. We study a model where managers can exert unobservable cost …
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Many commentators have suggested that companies pay top executives with deferred compensation, a type of incentive known as inside debt. Recent SEC disclosure reforms greatly increased the transparency of deferred compensation. We investigate stockholder and bondholder reactions to companies’...
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