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Managerial response to constitutional constraints on shareholder power

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Generalist versus Specialist CEOs : The Impact of CEO Expertise on the Design of Compensation Contract

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Generalist CEOs receive higher pay than specialist CEOs. We examine the implications of CEO expertise for the structure of executive compensation. We follow contract theory and predict that information asymmetry induces generalist CEOs to overstate their ability to a larger extent when...

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CEO expertise and the design of compensation contracts : evidence from generalist versus specialist CEOs

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