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This study examines the agency costs of corporate lobbying by exploring the relation between lobbying and excess CEO … compensation. We show that CEOs of firms engaged in lobbying earn significantly greater compensation levels compared to CEOs in non-lobbying … firms, after controlling for standard economic determinants of pay. The relation between lobbying and CEO pay increases with …
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We analyze the effect of CEO pay disclosure on wage distribution by exploiting a 1998 reform requiring Italian publicly listed companies to disclose top executives' compensation. In firms where CEOs disclose high total compensation, the top 5 percent and 1 percent of the within-firm wage...
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This paper revisits the concept of entrepreneurship, which is frequently neglected in mainstream economics, and …
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