This paper finds that CEO tenure for firms that adopt golden parachutes is significantly lower than that of nonadopting firms. These CEOs are frequently hired subsequent to control activity such as financial distress, takeover contests, or proxy fights. In the eighties, boards of directors had...

Trade credit extended to suppliers in the video game industry does not serve as a commitment device for large customers in determining which vendors to make relationship-specific investments in. Suppliers of video games are better off investing in relationships with trade creditors than seeking...