A dynamic model of managerial entrenchment and the positive incentives it creates
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DOI: 10.1016/j.jedc.2020.104057
Abstract: Abstract This paper presents a real-options model of entrenchment in which a CEO chooses how much effort to put into boosting a firm’s productivity and the board and CEO bargain over executive-compensation and investment policies.… read more here.
Keywords: model managerial; capital; ceo; entrenchment ... See more keywords