Becker, Bo (contributor); Cronqvist, Henrik (contributor); … - 2008
monitoring and control, leaving management with considerable discretion. The resulting agency problems
between owners and … monitors of management.
1
There is a large literature on manager … funds (e.g., Black (1990)
and Roe (1990)), they are not afraid of losing money management business (e.g., Brickley, Lease …