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Integrated ownership and managerial incentives with endogenous project risk |
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| Authors: | Baldenius Tim Michaeli Beatrice |
| Affiliation: | 1.Columbia Business School, New York, NY, 10027, USA ;2.Anderson School of Management, UCLA, Los Angeles, CA, 90095, USA ; |
| Abstract: | Review of Accounting Studies - Integrated ownership is often seen as a way to foster specific investments. However, even in integrated firms, managers invest to maximize their compensation, which... |
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