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. We find that: (1) PSP sponsors successfully identify firms that suffer from a misalignment of managers and shareholders …
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This paper investigates the effects of board of director collusion on managerial incentives and firm values. Recent … governance policies, such as managerial pay, and curbing competition. We study a model where managers can exert unobservable cost …-cutting effort and investigate the consequences of and the incentives for coordinating managerial pay among corporate boards. …
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