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Using an extended history of debt, equity, and merger transactions, we examine long-term firm-advisor relations and find that hard-to-value firms are more likely to maintain dedicated relations (underwriters or merger advisors). Firms that retain predominantly one advisor over their entire transaction history, however, pay higher underwriting/advisory fees,(More)
In social psychology, agentic behavior connotes excessive obedience to a proximate authority, and is mitigated by a rival authority or peer voicing dissent. Corporate governance reformers advocate non-CEO chairs and independent directors, respectively, as potential rival authorities and dissenting peers – plausibly to mitigate excessive director loyalty to(More)
Ten healthy males between 18 and 33 years received 10 mg morphine sulfate intravenously, or by lumbar epidural injection at two sessions 2-4 weeks apart, in random sequence. The following observations were made at intervals for 22 h. (1) Segmental hypalgesia to ice and pin scratch. (2) Cold pressor response test in hand and foot as an index of analgesia.(More)
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