This paper analyzes the occurrence of renegotiation costs in dynamic, binary agency models with a risk‐averse agent. I investigate technological interdependence arising from complementary tasks or substitutable tasks across periods. In addition, I analyze stochastic interdependence between...

As financial performance measures are not the sole determinant of chief executive officer (CEO) compensation, researchers have investigated social relationships between the CEO and the supervisory board's (SB's) members to identify other determinants. However, different conclusions have been...

As financial performance measures are not the sole determinant of chief executive officer (CEO) compensation, researchers have investigated social relationships between the CEO and the supervisory board's (SB's) members to identify other determinants. However, different conclusions have been...