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which managers could become entrenched, they already bear a large proportion of the costs and have therefore an incentive to …
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effect), for higher shares the effect becomes negative entrenchment effect). Moreover, risk-aversion of managers and …
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In its 1998 final report, the German Co-determination Commission identified a large and growing sector of the economy in which employees are covered neither by participation on company boards nor through the vehicle of works councils. The Commission argued that the steady erosion of...
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