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heterogeneity leading to a set of wages. We focus on the application where hedonic models have been most successful at clarifying … dimensions of heterogeneity in VSL, including by age and consumption plans, the latent trait that affects wages and job safety …
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We examine the relations between golden parachutes (GPs), pay-performance sensitivity (delta), and managerial risk-taking. We find an insignificant effect of GPs, but a negative and significant interaction of GPs with delta, on risk-taking. These results are consistent with the “takeover...
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