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under a perfect risk diversification strategy. The authors predict that this higher share of insider ownership and the …
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risk diversification strategy. The authors predict that this higher share of insider ownership and the resulting exposure …
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. Inside ownership reflects the classic tradeoff between incentives and risk diversification, and the severity of agency costs …, inside ownership, and the marginal cost of capital. We discuss implications for the determinants of firm size, the … relationship between Tobin's Q and ownership, and the effect of financial liberalizations. …
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