This paper is a tentative to integrate, using a heterodox approach, the capabilities perspective, that raises the role of the manager's competences, and the incomplete contract perspective, that raises the role of agency problems, to describe how the corporate governance relationships work in...

The potential conflicts of interest between managers, stockholders and debtholders influence capital structure, corporate governance activities and investment policies, which, in turn, could give rise to inefficient managerial decisions and suboptimal investments that generally fall under the...