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IPO firms with high-powered CEO incentive contracts have lower failure rates in the aftermarket. Economically, an interquartile change in the distribution of CEO pay translates in a reduction of the failure risk probability by approximately 21%. The Pay Gap between the CEO and its subordinate...
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This study identifies and empirically assesses the relationship between ESG reputational risk and corporate payouts. We provide robust evidence that ESG reputational risk stimulates higher payouts and that the presence of strong (weak) monitoring mechanisms amplifies (attenuates) this...
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