Pagano, Marco (contributor); Volpin, Paolo (contributor) - 2001 - [Elektronische Ressource]
Abstract
If the private benefits of control are high and management owns a small equity
stake, managers and workers are natural … management. Our model is consistent with available
empirical findings, and yields new predictions as well.
JEL classification: G … relations as being shaped by the conflict between
workers and management. Financial economists view corporate governance as the …