white, male, and come from higher-income families, the incorporated--as teenagers--typically scored higher on learning …

We consider a setting in which insiders have information about income that outside shareholders do not, but property … rights ensure that outside shareholders can enforce a fair payout. To avoid intervention, insiders report income consistent … with outsiders' expectations based on publicly available information rather than true income, resulting in an observed …

. Besides coming from higher-income families with better-educated mothers, the incorporated — as teenagers — scored higher on …

white, male, and come from higher-income families, the incorporated — as teenagers — typically scored higher on learning …

We consider a setting in which insiders have information about income that outside shareholders do not, but property … rights ensure that outside shareholders can enforce a fair payout. To avoid intervention, insiders report income consistent … with outsiders' expectations based on publicly available information rather than true income, resulting in an observed …