Enjoying the Quiet Life? Corporate Governance and Managerial Preferences

@article{Bertrand2003EnjoyingTQ,
  title={Enjoying the Quiet Life? Corporate Governance and Managerial Preferences},
  author={Marianne Bertrand and S. Mullainathan},
  journal={Journal of Political Economy},
  year={2003},
  volume={111},
  pages={1043 - 1075}
}
Much of our understanding of corporations builds on the idea that managers, when they are not closely monitored, will pursue goals that are not in shareholders’ interests. But what goals would managers pursue? This paper uses variation in corporate governance generated by state adoption of antitakeover laws to empirically map out managerial preferences. We use plant‐level data and exploit a unique feature of corporate law that allows us to deal with possible biases associated with the timing of… Expand
2,312 Citations

Paper Mentions

Enjoying the Quiet Life: Corporate Decision-Making by Entrenched Managers
Governance and CEO Turnover: Do Something or Do the Right Thing?
Governance by Litigation
...
1
2
3
4
5
...

References