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Managerial incentives and the efficiency of capital structure in US commercial banking

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We extend the literature on the effects of managerial entrenchment to consider how safety-net subsidies and financial distress costs interact with managerial incentives to influence capital structure in U.S. commercial banking. Using cross-sectional data on publicly traded, highest-level U.S....

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Managerial incentives and the efficiency of capital structure

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Managerial replacement and corporate financial policy with endogenous manager-specific value

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