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to solve principal-agent problems between equity holders and managers, e.g. by convex payment schemes that provide a kind … of limited liability for managers. Both aspects are of vital importance for entrepreneurial innovations and thus for the …
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Based on economic ethics, this paper reflects on and aims to improve the semantics of responsibility. The traditional concept of responsibility is threatened with erosion when responsibility is attributed to an actor who is unable to exercise individual control over the outcome of his actions....
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