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This paper proposes a theoretical model that incorporates corporate governance into the basic CAPM, where corporate governance affects the disutility of managerial effort and the possibility of managers to divert company resources. It shows that corporate governance affects firms’ stock...
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A short history of deregulation -- Recent regulatory history -- Enron -- Deregulation -- Notes -- Corporate self-regulation … -- Cost containment versus safety regulation -- Short-term earnings increase -- Shutdown and financial crisis -- Enron … notice -- SEC enforcement -- Epilogue -- Observations -- Notes -- Corporate self-regulation: the accountant as gatekeeper …
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