public intervention, and finally exit. When the blockholder faces short-term incentives, the threat of public intervention … incentive horizons, reduction in public intervention by a blockholder with short-term incentives strengthens public intervention … by the other with long-term incentives. This ameliorates the free-rider problem and restores the credibility of the …

This paper investigates the effects of board of director collusion on managerial incentives and firm values. Recent …-cutting effort and investigate the consequences of and the incentives for coordinating managerial pay among corporate boards …