Landier, Augustin; Sraer, David; Thesmar, David - Centre de Recherche en Économie et Statistique … - 2005
In many instances, “independently-minded” top-ranking executives canimpose strong discipline on their CEO, even though they are formally underhis authority. This paper argues that the use of such a disciplining mechanismis a key feature of good corporate governance.We provide robust...