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Corporate Governance and Risk Taking
Better investor protection could lead corporations to undertake riskier but value-enhancing investments. For example, better investor protection mitigates the taking of private benefits leading toExpand
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Bankruptcy and the Resolution of Financial Distress
This paper reviews empirical research on the use of private and court-supervised mechanisms for resolving default and reorganizing companies in financial distress. Starting with a simple frameworkExpand
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Corporate Governance and Financing Policy: New Evidence
Prior research has often taken the view that entrenched managers tend to avoid debt. Contrary to this view, I find that firms with weak shareholder rights, as measured by the Gompers et al. (2003)Expand
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Governance and Payout Precommitment
We examine how firms structure payout and debt commitments to address governance weaknesses. Firms with severe agency conflicts precommit through a combination of dividends and debt or throughExpand
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Corporate Governance and Corporate Risk Taking: Theory and Evidence
This paper examines the relationship between investor protection and corporate insiders' incentive to take value-enhancing risks. In a poor investor protection environment corporations are often runExpand
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Asymmetric benchmarking of pay in firms
This paper examines whether asymmetric benchmarking of pay exists for vice presidents (VPs). Using ExecuComp data for 1992–2007, we find that companies reward VPs for good luck but do not penalizeExpand
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Actively Keeping Secrets from Creditors: Evidence from The Uniform Trade Secrets Act
We find that an increase in a firm’s incentives to use trade secrets to protect its intellectual property results in a more actively managed capital structure. Exploiting U.S. states’ adoption of theExpand
Correlation and Path Analysis in Groundnut (Arachis hypogaea L.)
Pod yield in groundnut (Arachis hypogaea L.) is a complex and depends upon the interplay of number of components attributes. A clear picture of contribution of each component is the final expressionExpand