Bennardo, Alberto; Chiappori, Pierre-André; Song, Joon - Centro Studi di Economia e Finanza (CSEF) - 2010
The finance literature views perks either as productivity enhancing expenditures or as a result of poor managerial control by shareholders. Using a corporate jet to attend a business meeting may be justified because of the returns generated for the firm; but flying on the same jet to reach a...