which managers could become entrenched, they already bear a large proportion of the costs and have therefore an incentive to …

An empirical model of managers' demand for agency goods is derived and estimated using the Almost Ideal Demand System … of Deaton and Muellbauer (AER 1980). As in Jensen and Meckling (JFE 1976), we derive managers' demand for agency goods by … maximizing a managerial utility function where managers allocate the potential value of their firm's assets to the consumption of …

number of managers reporting directly to the CEO doubled, the growth was driven primarily by functional managers rather than … general managers. Using panel data on senior management positions, we explore the relationship between changes in executive … team composition, firm diversification, and IT investments - which arguably alter returns to exploiting synergies through …

, enterprises that pursue a diversification strategy prove against it as clearly growth-oriented. However, not all enterprises …

relationships between product diversification, business group affiliation and firm performance in two major economies in Asia. India … Rumelt (1974) implicitly assumed that the diversification-performance relationship is consistent, regardless of the macro … macroeconomic environments. Further, studies linking diversification with firm performance have been carried out mainly in …