When does Competition Mitigate Agency Problems?
This paper examines empirically how the performance correlation of firms within an industry affects the degree to which product market competition mitigates agency problems. Using the passage of state anti-takeover laws as a source of identifying exogenous variation in corporate governance, I find t...
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2005
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/lkcsb_research/4570 |
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| Institution: | Singapore Management University |
| Language: | English |